Hope For This Generation

Given the gargantuan scale at which evidence is pilling up pointing to a doomed generation, I found something that should put a smile on your face, and maybe present a glimmer of hope that our future leaders might survive after all;

Now before the grouchy old “get off my lawn” man ream these kids for piling up all that student debt and putting themselves in that precarious position, notice that they (at least these kids anyway) are manning up and taking responsibility. They understand the basic concept that this is their debt and they must make good on it. How refreshing is this, in contrast to the smelly deadbeat OWS crowd, who wanted a bailout and absolution from their past debts?

I know it is de rigueur around here to trash the college experience, or at least financing that experience with student debt, but most high paying technical professions you can’t get at junior college or trade school. If someone has a dream of being a doctor, lawyer, architect or engineer and they want to attend a prestigious college (with a prestigious price tag) in the hopes of landing their dream job, I say go for it. But go into it with your eyes wide open, meaning that you will be paying for your education for many years to come.

I would much prefer someone going into debt betting on themselves, putting themselves in the best possible position to be a productive (tax paying) citizen, then say running up credit cards on useless materialistic shit.

An argument could be made that these kids are an aberration and do not speak or represent the majority of their generation. Contrary to the example our president has set wrt government dependence, I think most folks understand where their responsibilities lie, what is on them and what they most do for themselves.

Bailing out anything or anybody sets a terrible precedent, is not reflective of our values, and will most certainly cause even the most diligent and disciplined to question their morals and wonder if they are just being a chump in doing the right thing.

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  1. Hal_10000

    I don’t think the problem is college and loans, specifically. I think the problem is that these things are being touted as the end-all be-all and being sold to kids who aren’t really suited to them. One of the econ blogs did a calculation on this. If you graduate college, it is still worth it. However, if you don’t graduate, it’s a financial disaster. You don’t gain the college premium in earning but you lose all the money spent and the loan service.

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  2. InsipiD

    What disturbs me more are the consolidation services that are sold after the fact that are even more ruinous. One weird trick that has bankers furious is clearly not a real thing, but some people fall for it.

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