• Mike Cramer

Student Loan Debt

And the hits just keep on coming……Robert Farrington..writing for Forbes…reported today that the lack of financial literacy is costing our college graduates thousands of dollars. Their lack of even a basic understanding of the financial decisions they are making early in their lives is appalling and will likely follow them forever. Starting with student loans, our young people have no idea how debt works. That they are making commitments against future income…..that it is a big responsibility that isn’t going to just go away. Although they are not going to be making payments while in school, they will be shortly thereafter and they have no idea what that means. What they are responsible for while still in school are the debts they run up on credit cards and they don’t seem to know how that works either. Really? How in the world is this happening? Parents? High School? COLLEGE? SOMEBODY? And, of course, we have the credit/debt industry….these vultures certainly have no interest in having their clients being smart and informed…..and they are everywhere! Here….sign this….and the good life awaits! More to come…..

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