Welcome Back to Nuanced Beauty!
Bill draws some interesting parallels between student loans of today and indentured servitude from his listening to the History of Rome podcast. The opinions being that "this debt is far too great to pay off, the math doesn't work" on one side, while the other side was saying "you signed up for it."
We share our experience and how we don't entirely relate to the typical college loan debt because we went to a Federal Service Academy. But we did take out Career starter loans before graduating that needed to be paid off in 5 years. So we had a hefty monthly payment, and we can potentially see how this debt kept us from buying a home.
We have a challenge for each side in this argument, on the one hand to pause and have compassion and see the magnitude of the problem, and for the other to not sit and wait for their debts to be forgiven. Debt weighs heavy, beyond just the monetary value.
We further discuss what makes up a college and the admin costs, and college amenities to create a lifestyle to attract students. And The social pressure to go to college, though I have hope that technical programs, certifications, and work experience are gaining traction for hiring practices, and I'm glad that with the saturation of 4yr degrees out there, we haven't simply upped the college norm to 6-8years. And perhaps the most practical point from our episode that Bill makes is perhaps a way forward is to allow student loans to be claimed in Bankruptcy.
Podcast Mention(s) in this episode:
The History of Rome
Borrowed Future (I couldn't think of the title of this one!)
Book Recommendation:
The Boys in the Boat by Daniel James Brown
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