July 21, 2014

HIGHER EDUCATION BUBBLE UPDATE:

I think of student loans as the cockroaches of debt. The loans are hard to get rid of because for so long, people were told this was good and necessary debt and so it wasn’t a bad thing to have it hang around for decades.

When people ask me about what they should do about their student loans, I ask: What are you willing to do to get rid of them as fast as you can?

And here’s my suggestion: Live for as long as you can with your parents, relatives or anyone who will allow you to stay rent-free or charge you a super-low rent.

Related item here. And here.