Quote:
Originally Posted by crockett
You do understand a lot has changed in this country that has put the middle class in it's position. Yes the middle class often spends more than they can afford but the bank and financial companies led the horse to the water.
Yes the horse has to drink but it's very big business for CC companies to have customers whom can't afford to pay their bills. They make more money off people whom pay late than off people whom pay on time. This is why CC companies are often all over college campus giving away CC's to college kids that can barely afford to eat ramin noodles.
Not to mention ask your parent if they went to college where they got their loan from. I can almost bet 100% that it was from the govt and not some private industry loan shark as kids deal with today.
The entire corporate America is geared at one thing at that's sucking as much money out of people pockets as they can with little regard to this country or the economy. It's not just people that lost the pride in Made in America it's also the corporate mongols whom forgot that they once also had that same pride in helping build & shape this country.
It's not just the middle class that is fucked but also everyone else because with out the middle class these companies will have no customers.
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There are a lot of factors going into what has caused many people to overextend themselves. I was just pointing out what I think is one of the main ones. With our point it isn't just where student loans come from, but the cost of college overall. I graduated high school in 1989. If I wanted to go to U of O (one of the big schools in my state) tuition was around $5,700 per year if you lived on campus. Today it is around $20,000. It seems crazy to me that a person would be $80,000 or more in debt when they leave college. So college costs have quadrupled, but when you adjust for inflation the average household income has barely changed in that same time frame.