Are Student Loans Taking a Bad Rap?

Student loans can be the bane of the millennial generation.  Over the past few years we have heard much concern voiced over the problems many face earning a living, raising a family and living a reasonable lifestyle while simultaneously trying to pay off major college tuition debts.  Many people take an “Oh, it’s their problem” kind of response to these concerns.  There is almost an attitude that implies that if young people hadn’t spent time partying or taking part in political protests while they were in school they wouldn’t be burdened with the strains of debt now during the prime of their working years.

Of course, this attitude is like what many people felt about the Romans who were buried when Mt. Vesuvius exploded and buried Pompeii.  But this “they deserved it” kind of attitude is not only simplistic and invalid, it’s also dangerous.  For when you take that kind of cynical view towards your fellow man, then it won’t be long before you encounter it yourself.  Nobody is safe from the effects of extended debt, just as no culture or country is safe from the effects of natural disasters.  Instead of a laissez-faire approach one might look for ways to help address a problem that is rapidly affecting the nation almost as badly as a major epidemic, and with impacts that can be of similar proportion.

One tactic is to encourage folks to get good financial guidance and advice from professionals to make such debts manageable.  Our entire society is guilty of encouraging youth to buy cars, homes, and other high-ticket items; then they find themselves saddled with other major debt on top of the student loan.  Some employers will pay for their employees’ finance management guidance.  Others hold special parties for his workers when they retire a major debt.  They are given a gift from Harry and David as part of an office celebration.  This became such a popular custom that he began doing it for other major events in employee lives, like when they bought their first home or had their first child.  Groupon coupons are used to order a supply of gifts – chocolate covered fruits and decorative fruit baskets – given to staff on special occasions.  As you might guess, his firm is consistently ranked as one of the best places to work in the region by employees.

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