How student loans can ruin your life

From the College Scam Blog:

Ugh.  So much stupid in just 3 paragraphs.

  1. He didn’t want to go to college.  This is the first mistake, and one that many college students make: going to college because they don’t know what else to to.   Andrew would have been better off getting a part-time McJob and working until he figured out what he really wanted to do.  As you will see later, he had another option.
  2. He turned down cheaper options and moved to a large (i.e. expensive) city because of how it made him feel.  Jeebus, what a woman.  This is the epitome of stupid.  Where you go to school doesn’t matter.  Accounting is accounting, economics is economics, and psychology is psychology.  All professors teach the same material, no matter which school you go to.  And it doesn’t matter if you hate your school.  You aren’t there to love it now, you are there to improve your future earning potential.  Save the move to the big city until you get the high-paying job that will allow you to fund your living expenses in that city.
  3. So Josuweit did what thousands of other college students do: He took out student loans. The difficulty was he couldn’t take out the amount he needed from federal loans. He needed private loans as well, and he couldn’t get them without co-signers. His parents didn’t like the idea, and they had already let him know that even though they agreed to cosign, he would be responsible for funding his own college, and he accepted the responsibility.  There is so much parental fail in this article, I can’t stand it.  He couldn’t afford his dream college, so he took out student loans.  The article doesn’t mention it, but I am guessing he took out about $60,000 in loans each year.  And his parents didn’t like the idea but co-signed anyway.  Jeebus.  The apple didn’t fall far from the tree, did it?
  4. He had decided he didn’t want a corporate job, and he took a job working for a nonprofit in Africa. He couldn’t pay his student loans, and his parents began to get late notices. Worse, because they had co-signed the loans, their credit scores took a significant hit. His parents have a small business, and good credit was important.  Wow.  Just wow.  The kid’s in debt, and refuses a corporate job and runs off to Africa to save the world be a bum.

You can access the entire post by clicking on the link.

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Categories: Education, Student loans, Stupid People

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