Why all the surprise at college loan costs?
Maybe I look at commitment differently than most people, but whenever I have signed my name to a mortgage document of any kind I not only knew the amount I would have to pay but I was going to pay it because that was my name was on the bottom line and that means a lot to me.
Now I hear that college grads are facing insurmountable loan payments for monies that they borrowed to pay for their education.
They signed their names to the loans and the amount of payment should be no surprise. It was their name on the dotted line and that should mean something to them.
All four of our children received college educations and I can remember all the time my wife spent having the kids write essays to countless organizations in hopes of securing some kind of scholarship.
I can remember the many evenings we sat down with our children and discussed the costs of the various universities that they were looking at. At one five year stretch we had three college attendees and we cut back on a lot of things to help them financially.
After their graduations none of them immediately bought a home or bought an expensive car.
They all bit the bullet a little in order to finish paying off their loans.
Can the graduates of today honestly say they did not know what their monthly payments were going to be and for how long after they graduated?
I hope none of them majored in finance.