Re:Student Loan Debt Is Now as Big as the U.S. Junk Bond Market
by wang_li on Tuesday December 05, 2017 @03:20PM
(#15855420)
> It's way too easy to get money for college.
It'd be more correct to say that it's way too easy to get money while at college. An awful lot of college students believe that being in college means that they have a middle class lifestyle. It is cliche, but in my day (1989-1993) students were poor. You lived in a dormitory and ate in a cafeteria. Maybe you'd go to a bar once a month. And 99% of the time you walked everywhere.
I think easy of approvals for student loans combined with the 2008 recession and slow recovery led to a lot of people finding that student loans were a source of income rather than a way to pay for college.
It'd be more correct to say that it's way too easy to get money while at college. An awful lot of college students believe that being in college means that they have a middle class lifestyle. It is cliche, but in my day (1989-1993) students were poor. You lived in a dormitory and ate in a cafeteria. Maybe you'd go to a bar once a month. And 99% of the time you walked everywhere.
I think easy of approvals for student loans combined with the 2008 recession and slow recovery led to a lot of people finding that student loans were a source of income rather than a way to pay for college.