Student Debtors Might Not Get Mortgages
When I was in college, we were told that student loan debt would *help* us get mortgages, because we'd make so much extra money with a degree, leading not only to the ability to actually, you know, afford a house, but to make regular payments on the loans and establish a credit record. Bonus points for those who buy their books with a credit card and pay it regularly (though I seem to remember that you weren't actually supposed to pay it off, if you wanted maximum credit-building).
That didn't really work out for me, but I'm sure it at least made some sort of sense at the time.
I really hope they're not telling the kids that sort of thing anymore, because we've obviously reached the point where it makes no sense at all. It's incredible that we've reached the point where paying for college can keep you from buying a house. The world really has turned upside down, hasn't it?
(Via Instapundit)
No comments:
Post a Comment