Quote:
Originally Posted by OrangeBlossomBaby
Student loans are under the oversight of the government. Due to change in cost of living and value of jobs, more graduates are finding themselves unable to cover the costs of their loans. More people working - sure. More people working and able to pay their bills? No. More people working, unable to pay their bills, and don't qualify for government handouts? No, but that's coming. Soon there will be millions of people who graduated from college who can't pay their bills, who are working, and need government help to stay nourished, housed, clothed, kept warm/cool (depending on climate where they live), and safe. We're already seeing this now, and there are kids who can't afford to live in a dorm or an apartment so they're living out of their cars while attending college. This is our generation's legacy to the generations who will some day run our country.
I hope they do better than we did.
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Perhaps all they need to do is learn to budget and calibrate their moral compass. I consider the following as analogous to folks owing money to loan providers. As a former landlord, I know that people can seem to find money to pay cable bills, cell phone bills, buy cigarettes, feed their animals, get tattoos, make payments on their motorcycles, eat mostly fast food, etc before paying their back rent because eviction takes a long time.