Rising college loan default rates

twoinanddone
Sun, 26 Aug 2018 20:53:41 +0000

And they learn- belatedly- that most of the big time major leagues sports agents have law degrees (three more years of school) and that the folks running the large TV networks have MBA’s (two more years of school) and their loans are due any day now and why the hell did they rack up debt to hand out towels at a gym?

I think they also need to accept that they can’t start at the top, that they might have to move from NYC to Kansas City to get a start and to be able to afford to live on their paychecks.

I have one kid who has a good new job but it is in a city where she wasn’t particularly looking to live. That’s her sacrifice. Niece did that same thing, and took a lower paying job, lives in a closet, has no car (walks to work and takes Ubers or rents one of the red bikes to go across town). Two years later she’s making a much higher salary and has settled into her new city. Still lives in the closet.

I have another kid who just wants to go back to working at Disney, which pays nothing. We were having a discussion about her having a car when she returns. Her friend has a car and works there. Well, her friend lives with her parents, and I’m sure the parents pay for the car and insurance too. Sure, the friend can afford to live on $12/hr because she isn’t supporting herself. When daughter lived there before, she lived in the Disney employee village, but she never had any money left over. Company town, so they gouge them for rent and fees. I asked her how she’ll pay for a car, a student loan, and health insurance. She’s quite sure she can do it. I’m quite sure she can’t.