Marjorie Sener was still in her 20s when she took out a loan for about $5,000 to get some college credits she hoped would eventually add up to a bachelor’s degree. That goal was thwarted when her partner became ill. “The burden of our living expenses fell on me,” said Sener, who lives in the Dallas suburbs. “I devoted all of my resources to keeping our heads above water.” But while Sener never got her degree, that student loan kept growing, fattened by compounding interest.
Not having to consider price is a luxury a rich person can consider. A nice luxury but a luxury just the same. It is also just another form of consumption in the absence of clear utility on the other side.
I’m far from rich, and have ~$40k left in student loans that I’ve been paying off for nearly a decade now, so trust me it’s not about not considering price. That completely misses the point I was making.
Finances are one consideration, not the only consideration.
Yes agree. It is complicated. It is also a decision that has to be made at an age that people are may not be equipped to make it and the people around them may not be that helpful either. Add to that even the best decision is just a guess made with what is known at the time.
Families have different approaches too. My family was pretty nuts and bolts. We were expected to get training to earn money and get out on our own. My wife’s family was much more go to college and explore. None of them found a paying job based on their education until later going back to school for a masters or some other training. The financial outcomes were different too.
Not having to consider price is a luxury a rich person can consider. A nice luxury but a luxury just the same. It is also just another form of consumption in the absence of clear utility on the other side.
I’m far from rich, and have ~$40k left in student loans that I’ve been paying off for nearly a decade now, so trust me it’s not about not considering price. That completely misses the point I was making.
Finances are one consideration, not the only consideration.
Yes agree. It is complicated. It is also a decision that has to be made at an age that people are may not be equipped to make it and the people around them may not be that helpful either. Add to that even the best decision is just a guess made with what is known at the time.
Families have different approaches too. My family was pretty nuts and bolts. We were expected to get training to earn money and get out on our own. My wife’s family was much more go to college and explore. None of them found a paying job based on their education until later going back to school for a masters or some other training. The financial outcomes were different too.