Rising college loan default rates

coolguy40
Mon, 27 Aug 2018 15:57:30 +0000

It’s because parents are allowing their kids to take out more loans than they can pay back. Johnny got into his “dream” school and we HAVE to find a way to let him go there, so they co-sign private loans. Those are completely irrational decisions based on an irrational demand from a teenager who has ZERO understanding of how hard it is to pay back $100,000. Who’s the adult here? It’s a parent’s job to bring their star-struck kid back to earth. The affordability talk is a good way to break the prestige fantasy and help them start thinking like rational adults. It’s better to have a disappointed teenager now than a college graduate with a crippled future.