[tothepointe]

Originally Posted by Becca123183

so true!! at least i know that regardless of whether it takes me the rest of my life to pay it off, i will be able to afford to. as opposed to what i can afford to do now (which is not much, lol).

You are worth investing in

[manofcare]

There is NO such thing as GOOD debt. You can claim that people that choose to not finance their education are being snobs. I consider that people that refuse to live beyond their means, pay interest to banks, and credit cards are chosing to be responsible with their money. Do you know why fast food places take credit cards now? Do you think most people have to finance their hamburger? NO. They do it because people spend up to 20% more when they use credit cards to purchase.
That's why I only use debit cards and cash. I want the emotional attachment to my money being wasted. Go ahead and spend the rest of your lives financing cars, furniture, carpet, houses, Christmas, school clothes, whatever. Because that's what normal broke people do. You guys spend at least two years trying to learn to critically think and you throw the baby out with the bathwater when it comes to money. Well, you say, it's better to borrow money to spend on education than buying crack or shoes or purses. It's really better to act like your grandma and spend only the money you have. The sign of maturity is when you delay gratification by saving and planning for what you want and need. You need to throw out the phrase: " I'll finance this or borrow for that because I deserve it and besides Nurse Lucy already has a bigger house, car, newer purse, etc." Ok, enough of the rant. Here's the whole motivation of NOT borrowing and financing everything.
The biggest wealth building tool that you have is your wages. If you live within your means, pay cash for good, reliable used cars, purchase a reasonable house with a big down payment and fixed interest on fifteen years, you live like no one else. Just think of the changes you can make in your children's lives when you are a millionare. You can change your family tree. You can build a church, help build a hospital, help cure cancer, drill water wells in Africa. So laugh at my simple ways. I'm debt free. I tithe to help with my church, my wife sends money to St. Judes, I will help with my nephew's college, my wife can help a family member after back surgery. Yes, I'm weird. Normal is dead broke and one paycheck away from homelessness.

[KBRN413]

I also went to a private school because the waiting lists were too long. I owe a lot in student loans. I don't regret going to the school I went to, however, because I had the BEST experiences and clinical placements. However, now, my loans are like a mortgage payment every month which doesn't leave me much to save. Trying to consolidate and refinance, however, I've been unsuccessful. Hard times, but, no regrets. I love my job. Everything will work out eventually!

[Asherah]

Originally Posted by manofcare

You can claim that people that choose to not finance their education are being snobs.

Who has ever claimed that in this thread?

Geeze louise! Good for you if you are education debt free and living the dream. No need to preach it to me, I agree with you (for the most part)! By the way, not all of us are "normal broke people," as you prefer to call those of us who don't get up on our soapbox and tow the Dave Ramsey message.

[tothepointe]

After years of studying economics I stand by statement that student debt is a good form of debt as long as it is well managed.

The cost of post-secondary education have grown exponetially compared to wages.

If x amount of years will result in x increase of income for the cost of.... then student loan debt is a wise decision as long as the numbers add. You MUST do the math first.

Most people especially in my area where the cost of living is so high can't afford to spend years of their lives trying to scrape by on menial wages and then hope to have something left over for school. I've seen it it doesn't happen.

I myself am not living paycheck to paycheck because my husband and I don't have credit card debt, don't have car loans only student loans though I am paying for nursing school in cash because I have it and I am fortunate to be able to. I could afford to pay my student loans of today but it is also important to be able to have an emergency fund and to have retirement savings to growth and build wealth.

[tothepointe]

Originally Posted by Asherah

Who has ever claimed that in this thread?

Geeze louise! Good for you if you are education debt free and living the dream. No need to preach it to me, I agree with you (for the most part)! By the way, not all of us are "normal broke people," as you prefer to call those of us who don't get up on our soapbox and tow the Dave Ramsey message.

The great thing about economists is there are alot of them and they all have different views. You'll find one to pick you.

I would love the person who insists eduction be paid in cash to walk up to the average 18 year old who isn't getting financial help from mummy and daddy and tell them they should pay cash. They'd probably cry.

[Asherah]

Originally Posted by tothepointe

The great thing about economists is there are alot of them and they all have different views. You'll find one to pick you.

I would love the person who insists eduction be paid in cash to walk up to the average 18 year old who isn't getting financial help from mummy and daddy and tell them they should pay cash. They'd probably cry.

I'd love to tell those who seek to be physicians that they need to save up 200K to do undergrad and medical school before they start But, enough of this really, its can be quite a touchy subject.

[tothepointe]

Everyone needs to do what is in their best interest in order to achieve a better life for themselves and their family.

[Jules A]

Originally Posted by Asherah

Who has ever claimed that in this thread?

Seems to me that you did:

Originally Posted by Asherah

I'm glad that this thread hasn't turned into something it could have, a few folks on their high horse about not taking loans and looking down on those who do (I'm being sincere).

Seems to me that "a few folks on their high horse, looking down on people" and snobs are pretty synonomous. How would you have liked if I wrote that I was so glad this thread didn't turn into something with a few people that are too *good* to work while in school but would rather load up on debt? Neither way sounds very nice or would be accurate.

[StayinOnTheGrind]

Originally Posted by manofcare

There is NO such thing as GOOD debt. Purchase a reasonable house with a big down payment and fixed interest on fifteen years

Isn't having a mortgage to pay off still considered debt and "good" debt at that (so long as it's considered an asset not a liability)?