He’s my “Thoughtpinion” of the day: It’s criminally irresponsible to be pushing massive, undefaultable loans to 17 and 18 year olds. Due to underdeveloped decision-making and judgment brain centers, we don’t trust them to drink, we barely trust some of them to vote, and we (as a society) more or less don’t trust them to be having sex — let alone to start families. Why? Because these are big decisions with potentially huge and permanent consequences.
But let’s have them sign giant loans they might not be able to repay so they can go to a school they can’t afford to attend because it was well marketed to them? That’s a decision we trust them to weigh?
And then when they get there, all the vulture scammy credit card deals — often backed by the school — help these teens get hooked into unrepayable consumer debt cycles for life.
Later they will be told it was their fault for being so irresponsible and for making bad choices. At age 18.
