Rather Go To…Jail?

College students are graduating with more debt than ever before.  This is no surprise considering starting salaries have only doubled while the cost of education has at least quadrupled.  Herman Castillo is featured in a piece about the debt facing college graduates.  He graduated with $5,200 in credit card debt and $30,000 in student loans.  He wishes he would have gone to prison instead of college because he wouldn’t have the debt and would have learned at least a trade or two.

The majority of the article focuses on the credit card issue but to me, a more relevant issue is the student debt.  The article ends with Castillo’s sentiments that so many young people share:

“I wish I could go back in time,” he said.  “When I signed those (loan) papers I never thought it would come to this point.  I thought it would be easy to pay it back.  I wish I had never gone to college.”

Obama is expected to announce a free college plan in the coming days.  There are varying versions out there of what this might be but I think the consensus is that it will involve volunteer work.  Some versions say that private lending would be eliminated.  Either program will undoubtedly cost the taxpayers.

Will this not alienate the people that already have student loans?  I have been out of college for 2 years.  I was very active in extracurricular activities in high school and earned very good grades.  I funded college almost completely on private loans.  Personally, I did over 1000 hours of community service while I was in school.  My husband and I have $90,000+ in student loans and interest to pay off.  After graduating college we got married and bought our first home.  We only bought what we could afford.  We were not eligible for any kind of first time home buyer’s credit because I had been on the paperwork of a home within the last few years for the purpose of power of attorney.  Note:  Had we not been married he could have claimed half of the credit.

I read today that one man’s mortgage was reduced on a $400,000 home from $2300 a month to $1200!  Must be nice!

Again, when/if people start getting FREE college and people are getting their loans rewritten…what are we supposed to do? Our taxes dollars are going to support this while we see no benefit and are paying our own way!

The other big issue here is the fact that social security, Medicare, the USPS, and grades K-12 are all underfunded or bankrupt so we know the government is not capable of sustaining this kind of program.

Spending is for buying votes.  This is attempting to buy the vote of the youngest voters while alienating a large group of people.  How can people like me afford FREE education, loan modifications, cap and trade, health care benefits being taxed (which he campaigned against but is now considering!), etc, etc, etc.  Maybe, my taxes won’t be raised like Obama promised.  But at the very least, the cost of living WILL go up.  I can’t even imagine what life would be like if I could keep even just the money that goes to social security….

We need candidates that want real CHANGE.  That want term limits and that want spending to STOP.  We need candidates that actually believe in equal opportunity instead of entitlement!  Equal opportunity means figuring out a way to make it;  it does not mean being given everything and it certainly shouldn’t mean taking tax dollars away from people who do it right and giving it to those they see fit.

A friend of mine asked if we would have been eligible for the first time home buyer credit, would we have taken it? YES!  We pay way more than that in taxes, it is OUR money!   As far as I am concerned, tax paying citizens need to take advantage of every break that they can before they don’t have any left!

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