Why College Students Shouldn't Worry About Student Loan Debt (At All)

It has become common among many young people, namely millennials, to be concerned by the effect of student loan debt on their future. Prepare to be dabbergasted as I reveal to you why student loans aren't as big of a deal as some people (who ironically want your money too) make it out to be.

Student Loan Debt Pales in Comparison to Other Debts You Accrue in Life

The average student loan debt in 2018 was $29, 800. Now while numbers rarely lie, they often mislead. In life, you will find yourself in far more debt than this. Your parents and the people before you have been able to handle debts like this, so why can't you? Here's a list of debts you may accrue in your life that will total higher than your student loan debt:

  1. The average  new car loan taken out totals to $29,921.17
  2. The national average mortgage (house loan) is $201,811
  3. Medical debts are the number one cause of bankruptcy in the United States with 75% of those bankruptcies coming from people who had medical insurance.
  4. The national average cost of wedding ceremonies is  $33,931
  5. The cost of raising a child into legal adulthood can range between $193,020 to $264,090

Fear Sells

There are plenty of things in life to be afraid of if you look for them. Depending on how you look at things, you can conclude that everything is out to get you and have valid, rational arguments to support what you think. When you find yourself flabbergasted by the challenges life throw you, calm down, stop, drop, and roll, and then crawl your way to safety. Wash, rinse, and repeat. That, or don't get flabbergasted, get dabbergasted!

If You Never Make Enough to Pay Them Back, Then You Won't Pay Them Back

In 2009, the option for income adjusted repayment for student loans was made available to American students. The closer your annual income is to the national poverty line, the less you are required to pay on student loans, with people with an income at the poverty line legally required to pay $0/month. Some loans have forgiveness after 20 years and some can be refinanced for lower monthly payments or longer terms. Remember that private loans can be discharged in bankruptcy, and all evidence of that bankruptcy may be completely erased  from your credit history 7 years after. This allows for multiple chances to get your finances in order. If you believe you are unable to pay on your debts, turn off your TV, stop listening to Bernie Sanders and high school kids who never paid so much as a light bill, and contact a bankruptcy lawyer. When life hits you with curve balls, act now and complain/be emotional later. It happens to the best of us!

Not all adults are grown ups!

Life is Full of Risks

Student loans are typically the first financial risk you will take  that you will be fully responsible for. If this is too much to bare, realize that as the days go by, things only get harder and a large part of being successful in adulthood is being tough and rolling with the punches. I speak primarily to men when I say this because I believe that some challenges in life are too much for a woman to possibly bear and feminism will never succeed in replacing men with women in society, because it's just physically, biologically, mathematically, and scientifically impossible. To any woman reading this, my advice is to find a husband who you can lean on and look to for strength when things get tough. Men, when you lean on your wife for support and refuge from the cold indifference of the world, you will find the challenges of life to be a lot more bearable.

Break the Cycle

If you are so concerned with how your parents didn't save for your education, or how there is no program set in place to make education affordable, then break the cycle. The demand for higher education will only go up as we continue through decade after decade of peacetime. I don't see the cost of education going down anytime soon, so as a result, I'm challenging my readers to come up with creative ways to circumvent the times and still build a solid career. With the advancement of the internet and various teaching software, the future of education is nigh. Get creative and get thrifty. Or, you can just save up thousands and send your children to old fashioned college as well! The idea is that your life begins with you. Nobody is responsible for facilitating your dreams but you. You have to plow your own fields!

To sum everything up, I want to tell you all that this is it. That day that you waited all your life for has finally come. Your childhood dreams of independence, freedom, and the ability to do whatever your heart desires has finally come. But freedom comes at a price!

Don't forget to subscribe to my blog to receive more updates. And remember: Don't get flabbergasted, get dabbergasted!


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