Originally Posted by GlennR
I agree with paying off your debt.
But, it is a shame that college costs keep rising & rising in the US. Seems like "if they're so smart" colleges could figure out how to keep costs down!
I also feel like educational loans should be offered directly from the Fed at the prime rate and avoid the bank profits. Education is should be considered an investment in economic development, and the government seems to look for ways to promote that all the time.
IMO banks are parasites....
Having the government offer the loans would be great if people were in the habit of paying them back, but it will never happen because a large share of students never pay the loans back. I dont want to have to pay more taxes so some person can squander the money in college getting drunk and high and then just walk away from the debt.
Banks are a business like any other business. Would you let someone use your money for free. If you dont have the money to buy what you want and want to use theirs you are going to have to pay for it.