College in the US has been turned into a predatory lending trap designed to turn young people who aren't rich into debt slaves.
College used to be a way for poor, but smart kids to climb the socioeconomic ladder. The ruling elite in this country don't want that, and they don't want the poor and middle class to be educated. Making college so ridiculously expensive that only their kids can afford to go without incurring insurmountable debt accomplishes exactly that.
This is one of the biggest piles of BS. Colleges still are a way for poor, but smart kids to climb the socioeconomic ladder. Financial aid at top universities is at an all time high. Many give students $50-$60k a year in aid.
In federal student loans that are non-dischargeable in bankruptcy that they will have to pay back. $60k/year * 4 years = $240k + interest = Have fun paying that back.
Financial aid generally comes in the form of money that does not have to be paid back...
You have to pay them back. Even if you declare most types of bankruptcy you have to pay it back. If you die, a member of your family has to pay it back.
You basically have to become a homeless person or a ward of the state not to pay it back.
You guys are confusing student loans with financial aid, which is mostly discussed in the form of grant money that all elite universities give out to pretty much anyone who can't afford to come there-provided they meet their qualifications and are accepted.
That is money that is often $50-60k a year and does not have to be repaid.
You're the one that got confused. The conversation was about loans not grants.
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