Wednesday, January 22, 2014

Response to "A Lifetime of Student Debt? Not likely." Article

In the lengthy Article, "A Lifetime of Student Debt? Not likely." Robin Wilson provides numerous examples of how this idea of student debt is not as bad as we think it is. For the first half of the article I couldn't concentrate because I was thinking about how Robin Wilson's name reminded me of Robin Williams.  Then I was thinking about Aladin and how great he was as a genie, then I thought of all the things I would do if I had a genie, like pay for my college tuition,  and then finally I was thinking about student debt. This article was refreshing because I to, like Mr. Wilson, believe the world has instilled this large fear in students that if they go to get the education they want, they will be paying for it the rest of their life. While this may be so and a student may be paying month after month for many years it doesn't change the fact that going to college is a great investment. You buy a house and pay monthly and that likewise is a great investment. As with anything there will always be the good stories and the bad. Often we hear a bad story about how someone had massive student debt and it will distract us from the good stories of how a student was able to get the education they desired and have manageable payments. A quote that had me quietly applause in my head was said by Patrick M. Callan and he said, "The only thing worse than borrowing, is not borrowing and not going to college at all."  Well spoken Mr. Callan I couldn't agree more. That would be equivalent to saying, "Oh I'm going to live in this box because to get a house I would have to borrow and then I could be in debt." A box is no investment to a better life, a house is. No college equals no investment to a better life, it's an investment in a less than bright future because you were afraid of possible debt. We shouldn't live in this fear because another great point that Wilson brings up is that many of the student loans have very low interest rates. In that case it's borrowing at a low cost and investing in a better future for yourself.

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