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Sunday, June 10, 2012

It's Not About The Debt.

It's about the idiocy.

How many young people here in the USA could we put into this category?

"In 2010, the New York Times reported on Cortney Munna, then 26, a New York University graduate with almost $100,000 in debt. If her repayments were not then being deferred because she was enrolled in night school, she would have been paying $700 monthly from her $2,300 monthly after-tax income as a photographer’s assistant. She says she is toiling 'to pay for an education I got for four years and would happily give back. Her degree is in religious and women’s studies." [source]

This ... college graduate ... rolled up a hundred thousand dollars in student loan debt so as to walk away from NYU with a degree in a course of study that was guaranteed to provide squat in the way of a future career path.

One is prompted to ask: Was that self-esteem building worth the hundred grand (plus interest over time), sweetheart?

And: What in God's name were you thinking?

But then again ...

Maybe thinking wasn't factored into the process.

That sign reads, "Is 'following your dream' supposed to be this terrifying?  $60,000 in debt from my student loans with an 11% interest rate."

I wonder if this woman was terrified when the loan officer twisted her left hand behind her back and forced her to sign with her right that certificate making $60,000 available to her up front.

Lesson to be learned from this?  Idiocy has its price.