The #StudentLoans discussion has REALLY shown how few adults understand compound interest. I graduated with $70k in #debt. I've paid off $30k. I now owe $90k.
"Well you shouldn't have gone to college, then."
I agree. But how many mistakes did you make when you were 17? How much did you trust the advice of the adults in your life at the time? How many of those mistakes will you still be paying for when you're 90?
The mistakes we made at 17 shouldn't have us killing ourselves at 40.
But what's the practical and sustainable solution going forward?
How do we figure out who is and isn't capable of deciding whether to take out a loan?
Do we block everyone from participating fully in the financial system for the sake of some, or how do we sell a program where someone (government?) will tell people they aren't allowed financing?
This is a really thorny issue.
