Thanks To Their Student Loans, Most Millennials Will Die In Debt, Never To Retire

Ian Carter
Ian Carter

HOW TO GET A DECENT PAYING JOB AND SAVE MONEY: desuarchive.org/prepare/thread/40/ | archive.fo/4vGvc
web.archive.org/web/20180924174348/https://desuarchive.org/prepare/thread/40/

Adulting, the now common idiom goes, is hard. And to many millennials, the grim realization that debt will always be part of their lives is not making it any easier.

In some cases, their debt load is so soul-crushing they expect to die without ever paying what they owe back. So how much does this problem have to do with the higher-education crisis the country is facing? As it turns out, everything.

According to a study by Northwestern Mutual, educational loans are the leading source of debt for millennials ages 18 to 24. And according to a CreditCards.com report, over 60 percent of millennials aged 18 to 37 are completely unsure when, or if, they will be able to pay their debt off. Among those who responded they are uncertain about their ability to pay off debt, 20 percent said they expected to die in debt.

But to those with only credit card debt, the prospects aren’t as grim, as 79 percent of millennials said they had a plan to pay it all off, expecting to be completely debt-free by age 43.

While many of the news outlets reporting on these findings urge young people to get a plan in place so they can pay off their debt, the reality is that government’s push to give everyone a college education is what has greatly contributed to young people’s debt load. And what’s worse, degreesare not actually helping many young people get a job.

Will bureaucrats and those who pushed for more government-subsidized education ever admit they created a monster that has finally gotten out of control?

When government and elected officials push college education as a right, they imply that the government has the duty to help provide it to the populace. With grants, subsidies, and easy, risk-free loans going out to 17-year-olds with no credit history, young people think pursuing the career of their dreams is a piece of cake. But once school is out and all they have is a diploma, they finally realize things weren’t as easy as they expected.

The problem is that when government enters the picture and makes it easier for consumers to pay for college, it artificially increases the demand for college. With a greater number of students demanding higher education, schools have to raise their prices. After all, they have a limited supply of what they offer.

As explained by economist Ryan McMaken, “Were it not for the subsidized loans and — in the case of public colleges — directly subsidized tuition, the number of students able to afford such degrees would shrink considerably.” With fewer students knocking on their doors, colleges would have to slash costs and, consequently, prices, just so they could fill up their empty classrooms. But to bureaucrats, the solution doesn’t lie with letting the market work. Instead, they want more government interference.

Pushing for better loan deals, more regulation, or penalties for students who can’t pay the loans back, bureaucrats and their supporters are only worsening the problem they created.

web.archive.org/web/20190114210132/https://www.zerohedge.com/news/2019-01-14/thanks-their-student-loans-millennials-expect-die-debt
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Jordan Robinson
Jordan Robinson

The reason people should consider trade school instead.

Thomas Cooper
Thomas Cooper

Most millennials ignored their elders (Ron Paul would be an example) when we warned about the dangers of fiscal insolvency. Instead they just wanted to 'feel good' at the time, look where that got them. But people were always like that, some can handle the truth, and some cannot.

Lucas Turner
Lucas Turner

I'll tell you what needs to happen: students were exploited by the corrupt banks, and corrupt universities. These people are NOT your allies, they are racketeers at the finest. What should happen is a mass boycott to pay back those student loans. Organize a wide scale boycott to pay it back. In doing so, you bankrupt the corrupt banking system and you bankrupt the corrupted greedy universities. They deserve to be bankrupted.

If you don't and refuse to do that, don't expect hard workers/taxpayers (who already have trouble paying their bills) to bail your asses out. So bankrupt them, or they bankrupt you.

Gabriel Parker
Gabriel Parker

The politicians would get together and bailout this big banks and universities should this happen, at taxpayer's expense. In fact they are already considering it should students happen to fail being able to pay off those debts.

Anthony Bell
Anthony Bell

This is what intense brainwashing and intentional ignorance gets you.

Colton Nguyen
Colton Nguyen

Universities should be shut down over racketeering, and the bakers engaged in this fraud arrested. This is what would happen if we did have Justice.

Daniel Morales
Daniel Morales

Millenial
Can I borrow some money
Jew
Yes but you have to pay interest
Millenial
Wahoo im rich

Later….

Millenial
OMG Im gonna die in debt.

Hudson Thompson
Hudson Thompson

EGG ZACK LEE

Beware their trickery. If you can't afford it, best not buy it, or at least save up your own money so that one day you can earn it.

This is why I suggest trade schools, cheaper and a lot better at producing skilled workers who can find a career. College is a TOTAL fucking racket today.

Gabriel Cooper
Gabriel Cooper

BUMP.

Kayden Williams
Kayden Williams

bumping real news

Jason Rivera
Jason Rivera

shunned and ignored, as expected.

BUMP.

Carter Lewis
Carter Lewis

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Henry Edwards
Henry Edwards

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Luke White
Luke White

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Parker Gutierrez
Parker Gutierrez

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Jason Young
Jason Young

111

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Cameron Young
Cameron Young

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Grayson Wright
Grayson Wright

z zD C1`3E

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Brandon Gomez
Brandon Gomez

Zws23

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Austin Nguyen
Austin Nguyen

sdf

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Mason Clark
Mason Clark

w w 3

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Oliver Ward
Oliver Ward

Millennials dont go to 4 year universities on a whim. Their parents could easily guide them to a 2 year community college for undergrad before transferring to uni of their choice. It's the parents fault.

Ryder Morris
Ryder Morris

be american
takes loans without knowing how they will be repaid

Henry Diaz
Henry Diaz

be american
take loan with exact plan on how they will be repaid
socialists change the rules so you are now in debt for life
socialists torpedo the economy because muh glowball warman and gibs
never vote for shitlibs again
get called a racis

Chase Clark
Chase Clark

Partially the parents fault if they shill college, yes. They should be recommending trade school. And IF they want to go to college later, make them earn that money to pay for it.

Xavier Murphy
Xavier Murphy

real news bump

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