Reply to Financially hobbled for life- elite masters degree that don’t pay off

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you are smart enough to get into an elite grad program, you should have the intelligence to recognize the financial impact over the long term. [/quote]
one would think so, but being financially savvy is not the same as being academically smart.

I know someone who has multiple degrees from great schools, but this person's finances are a mess.  This person can't manage money.

And no , the debt should not be forgiven. You are an adult; you made a decision.  No else should pay for your bad decision.[/quote]

I wonder how people who take that stand view bankruptcy in other contexts. [/quote]
I don't like the bankruptices laws in this country, but I do think bankruptcies due to medical reasons is legitimate, and actually, it's one of the main reasons why people become bankrupt.

And this is another reason why we need medicare for all.

But, there are different bankruptcy status - one where you can restructure your loan, and the other where you can't but then they can take all your assets and garnish your future wages.

Student loan should not be forgiven completely. Even if you can never pay it back, they should be paying something.

[b]What happens if the loan is forgiven, and then 20 years later, this person hits the lottery?  Shouldn't they pay it back?  If the loan is not forgiven, but just restructured,  that loan could be paid off.[/b][/quote]

I truly don't understand sentiments like yours.

People like you know that a substantial of people will never be able to pay it off. Is the solution for them to be debt slaves for the rest of their lives? Are they supposed to die with it?

Please let me know your thoughts on this! I really would like to know.[/quote]
My thought is that people should take responsibility for their choices.   Yes, that may mean they die with debt. You realize that many people die with debt, right? Credit card, house, car.. student loans.

If you want to forgive their loan, be my guest.  They can start a gofundme.

But, I'd like to know your thought on the bolded.[/quote]

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