Thursday, April 2, 2009

I do owe north of 15 large on a student loan

by Smitty

I have every intention of paying it off, with interest. Actually, I'm overpaying it, and get an occasional note from the creditor saying "you do realize you're paid ahead", with the unstated "there is no reason to over-perform on perfectly good loan, you know".
Now, here is this Walletpop posting about a Facebook group trying to agitate for economic stimulus through student loan forgiveness. This is great:
Founder Robert Applebaum told BusinessWeek that after graduating from law school and earning a salary too low to make payments, his student debt load has grown to $100,000. "Despite having a law degree, I'm middle class and I don't have any money at all,"
If there's a real feature in all this economic mess, it's that we can get past this class warfare by amputating the cash from all wallets. Materialism is a lousy life extender, anyway.
So why should I turn down the opportunity to obtain forgiveness for the student loan debt? I don't know, something about the moral authority of having paid my own freight remains attractive.
Once upon a time, your humble blogger veered into academia. He saw the surreal interior of the ivory leviathan. For a purely random glance into the belly of the whale, see this. One hopes that the author of "Understanding Information Systems Continuance: An Expectation-Confirmation Model" is doing well. It didn't seem like such a party. Instead, the blogger punted and now feels that, just as living through the hangover is a component of the tequila drunk, the student loan debt piled up while flaking off on campus must also be paid.
Put another way, I don't care if your name is Harry Angel or Johnny Favorite: when a guy named Lou Cyphre (i.e. the government) offers to hook you up, the only appropriate response is to flee.


  1. @TRG:
    Oh, I started above twice the noted figure.
    The point is not the magnitude, but the principle.