Reply to involuntary collections of student loans

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[quote=Anonymous][quote=Anonymous]If you take out a loan you need to repay it. It’s that simple.

No more Starbucks. Forget about upgrading your iPhone. Door Dash isn’t a necessity. Vacations are for people that actually save money and aren’t deep in debt. It’s time for a second or third job. You can no longer afford all of your streaming services. Discretionary things like drinks with friends aren’t in the budget. Life is hard when you fail to manage your finances.[/quote]

First of all, let’s stop vilifying people for being pressured into making a huge financial commitment before they even graduated HS without having the bottom line explained to them. Not everyone has parents or other adults in their lives who can break it down for them so that they will know what they are getting into. Before you say, “Well they should have figured it out on their own!” let me remind you…they are teenagers. Frontal lobe still underdeveloped.

Also, do you actually know any young professionals? Because the life you described is me as a young professional in the 90s. With a salary of $25k, I could afford an apartment, a reliable car, treats, and travel! My daughter, with no debt and a salary of $52k, had to live at home for her first year to save money and is still having to scrimp and save. Almost every college grad I know has to live at home for at least a year, either because they can’t find a job or living expenses are so out of control that their salary doesn’t cover it. [/quote]

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