Graduate college and declare bankruptcy!
Question: By Martha Irvine, The Associated Press
Christian Miller can’t get a car loan and, at age 27, has returned to his parents’ New Jersey home, forced back by the double load of credit card debt and student loans.
Like other “20-somethings” across America, he’s found that graduating from college means having to face tens of thousands of dollars in debt. Some even drop out before they finish school, while a growing number are declaring bankruptcy.
“It stinks,” said Miller, who arrived on his parents’ Livingston, N.J., doorstep on New Year’s Eve two years ago.
Financial experts predict this year’s graduates will have an even tougher time. Never has a generation entered a recession-weakened job market so debt-ridden.
“I have a negative net worth of $14,000 — it’s great!” Jessica Lopez said sarcastically.
Answer: I’m not sure what the big deal is. My wife and I had close to 60K student loan debts between us after we graduated with master’s degrees, and we paid them off. Took ten years, sure. Of course, we both had jobs. I’m old enough to have been through a couple of recessions.
Hey, the conservatives taught me to stand on my own two feet. If I can’t get a job, it’s my fault. If I charge too much on my credit card, it’s my fault.
They learned me good.
Irony intended.
Seriously, though, maybe some of these recent college grads will have to take jobs that they’d rather not have to pay off those debts. I know I did.
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