Good Debt Does Not Exist!
I am rather young and I have supposedly been the one with my head on straight. If that is the case then why do all the screwballs have less debt then me. I will tell you why! They did not feel a need or pressure to go to a good college. They may have attended community college for a while. I currently am in an envious status of these irresponsible young adults. I am on my way to the Bachelors degree and supposedly the good job. I hope for a job. I am doing accounting supposedly they still need those, but we will see soon enough. They don't have that so called professional future. They have nothing really at all. Most of my friends debt amounts to a few thousand $ for an old car and maybe an unpaid cell phone bill. That is it! I have no traditional debt at all but yet a debt burdens me. I have the worst debt anyone can attain and that my friends are student loans. When I graduate my piece of paper that cost me opportunity and 5 years of my life will amount to $45,000. I have a hard time looking forward to graduation when I have to look forward to that. If I have any advice for the young it is to think throughly and carefully about how you pay for college. Half of my debt is private lenders and the other half federal student loans. It is the private ones that I am afraid of. If you have children in high school take an active role and don't let student loans ridiculously add up on them. Oh and yes student loans cannot be put in bankruptcy. They will follow you until they are paid off or you die. They can garnish your wages and take your assets. Just Say NO to Private Student Loans and any if you must. Go to community college 1st it is equally as valid and saves a heck of a lot of money. Peace and Love- K