How much do I owe VISA?
Zero. Zip. Zilch.
I pay off my balance every month. Just because I CAN borrow obscene amounts of money, doesn’t mean that I do.
Working in higher education, I myself have been on the receiving end of more than a few phone calls from irate students, who having learned that their stipend (money borrowed in excess of actual education costs) was going to be delayed for a week, accused me of personally ruining their family’s Christmas, child’s birthday, or long-awaited vacation. I’m pretty sure most of us can agree that the "living expenses" portion of federal financial aid isn’t meant to be used for a 10-day Caribbean cruise.
Now, to be clear, students who have maxed out on their student loans aren’t doing anything wrong. They’re legally entitled to borrow what they qualify for, and there are probably a few who can justify the extra debt-load as an investment in themselves that will pay off in the long run. But as we continue the national discussion on graduates who have little hope of paying off their student loans, we need to add to the dialog that just because you CAN borrow obscene amounts of money, doesn’t mean that you should.
Copyright © Deborah A. Ayers - All rights reserved.
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