Yahoo Article: This Bright-Eyed Young Man Was Utterly Demolished by Student Loans

[jet powder]

The goverment makes education more expensive by giving loans & grants to kids. They should get out of the education bussiness & while they are @ it they should get out of the money bussness they are not effecient @ anything. let our form of money have competition & have the effecient private sector compete.

[m3s]

The goverment makes education more expensive by giving loans & grants to kids. They should get out of the education bussiness & while they are @ it they should get out of the money bussness they are not effecient @ anything. let our form of money have competition & have the effecient private sector compete.

This is such a cliché narrow-minded way that people seem to think nowadays. There are many more factors to the equation, and many other downsides to privatization besides simply being "more efficient". In the end all that matters to a privatized company is profit, this is very dangerous in something like school or medicare or military or natural resources etc etc where people need to consider more than just profit. Competition is an idealism just like any other because consumers are so easily manipulated, they don't even realize when competition is failing them. I can tell you there is a big difference between a dentist who is soaking your insurance for every penny, and a dentist who is paid the "inefficienct" way, and only one of them tried to fill my teeth with metal for his own gain. Germans have public university, yet how are they known more for their engineers and education than Canadians? (who seem to pay a lot more and study a lot less)

[MoneyGal]

These were not government loans, they were "efficient" private loans...

[KaeJS]

He really should have done his research...

There was probably a reason his father wouldn't help him out unless it was for engineering. The kid was obviously not very "bright", regardless of what his grades were. Plus, it doesn't seem like he worked all that hard to me. He was working part time. He should have got a second job...

[Young&Ambitious]

Agreed. When there's a will there's a way. Yes unemployment is at 8% but if you're reliable and have a great work ethic employers won't want to lay you off, they'll choose someone else.

[OhGreatGuru]

Methinks this "Bright-Eyed Young Man" was a pretty dim bulb. This has nothing to do with student loans and everything to do with mortgaging yourself to a loan shark to pursue a very unpromising & insecure career path.