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LeighBowery'sLuxuryComedy's avatar

NOT arguing with the premise of all this, but - I did work my way thru college, graduate with no debt, and buy a house by the time I was 40. But those were different times. I worked, but mostly had my college covered by Pell and state grants - which were sufficient to cover tuition at a local college (I passed on attending Antioch, my first choice, because I would've graduated with a then-whopping $10k in debt - yep, that would've been the total for four years). I bought a house because my slum landlord conveniently dropped dead and I got it for under $15k.

I also would never dream of holding these things over my kids heads. I'm actually embarrassed that my younger has college debt I'm unable to help her with - these days, she makes as much as I do. I'm scrimping & saving for a house to retire in and hopefully pass on to my kids as I won't have much else to leave them, because I (think I) can, and know they won't likely have the same opportunities. And that fucking blows because they're amazing people who deserve much better.

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wmpmacm's avatar

I took out loans to compete a masters and a PhD both to improve my knowledge and capabilities as an instructor and to earn a higher salary. I did not expect to find myself paying alimony which siphons off a decent chunk of my earnings. I am reconciled to the fact I will die before I pay off my student loans. In my early seventies, I have really ceased to care if I do or not. I will not default, but they will get only what I can afford after negotiating them down to a minimum level. It is not that I planned to game the system, but just the way things are. No one will die from this, so I figure I need to take care of me and mine as best I can as long as I can work, retire when I can no longer stand it, and after that, well...we'll see.

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