I just think people should be aware of all of the ramifications before jumping in and taking on a load of debt.
I don't have a problem with someone deciding that is the way they want to go, as long as they are fully aware of what they are getting into. It's kind of like the youngsters reading the ads in the magazines that think the big school flight academies are the only way to get to an airline job. You and I know that the academies are not the only way, but if someone does there homework and learns about alternate paths to the airlines, then decides they'd rather spend the money and go the academy route - no problem for me.
Same with taking out loans. I don't think that loans are a good deal, but if someone
really does their homework and decides that the added cost is acceptable to them,
and has a pretty good understanding of how they are going to pay them back on a limited income, then I say go ahead and knock yourself out. My problem is that too many people don't really understand money management and what the burden of debt can do to them over time, and get in over their heads unnecessarily.
Are loans a necessary evil? I suppose for many situations they are. I would just rather that people look at them as a last resort, not as the accepted route. I've seen too many people get way over their heads in debt (including plenty of doctors and lawyers by the way), and I've seen the heartaches and nightmares that it can cause.
Maybe I sound like I'm picking on people, but that is not my intention. Information is power, and the more informed people are, the better decisions they can make. This is just one of those topics that always makes me crawl onto my soapbox, and I often don't realize that people think I am talking about their specific situation rather than just ranting about the topic in general.
Besides, like my dad always tells me, "free advice is worth exactly what you paid for it."
