Also 17 year old kids, the vast majority of which have never taken on significant debt and have no frame of reference for the scale of obligation they’re taking on.
It blows my mind that we look at an 17 year old and, as a government, we say, “Alcohol? Too young and immature. Handguns? Too young and immature. Tobacco products? Too young and immature. Voting? Too young and immature. Enlisting in the military or want to take on 5 or 6 figures of debt that will drive your major life decisions for the next few decades? Sign here.”
A 17 year old kid is forced into taking on debt to attend college with, at the time they agree to it, no way of paying it off. It’s a gamble any which way you slice it. And they have no frame of reference to understand the decision they’re making.
The school isn’t on the hook to ensure they get gainful employment that would pay them enough to manage that debt. The loan servicer isn’t either. Only the kid is going to be held to anything, yet the shitty take is always, “They knew what they were signing up for, so fuck em. I want them to suffer for their bad decision.”
With all sincerity, I hope you encounter misfortune through no fault of your own that ruins your financial security for the next 20 years.
Denver experimented with giving people $1,000 a month. It reduced homelessness and increased full-time employment, a study found. (www.businessinsider.com)
cross-posted from: lemmit.online/post/1021018...