Originally Posted by
haymaker
I agree with the original post, school loans stink. Unfortunately they are so prevalent that many college-bound people don't think about the consequences. It is unlikely, but hopefully we start to move away from this buy now, pay later mindset and get some sense.
All debt sucks, but I feel student loans are a good tool when used responsibly. Unfortunately with the rate that tuition increased in the past 15 years it really has become the only way that many people could attend college. They are far cheaper than credit cards and the interest is tax deductible. They also have very flexible repayment plans when compared to other financing options.
Responsible use would not be going $60k+ in debt for an career field that doesn't support the payments.