LogFAQs > #948685042

I went to a state school for cheap instead of a big name school like MIT, which I had the grades for, in order to avoid taking out (m)any loans and graduating debt free. This has absolutely hurt me in employment searches. I still remember the Navy recruiter telling me my 3.1 GPA would be good if it was from an Ivy League, MIT, etc... but not high enough for a state university degree. I knew it'd have an impact when I made the choice, but I don't regret it b/c not being in debt was more important to me.
My wife had thousands in loans and we saved up (no travel at all, no big purchases, living super frugally) and paid off ASAP entirely.

I have no sympathy at all for people that ran up outrageous debts. They didn't think at all about what their dream school would cost or how compound interest works and apparently neither did their parents.
I'd support letting them refinance to lower rates, and in cases of true economic hardship allow them to pay back the principle and none of the remaining interest. But no outright free money.
Going forward, we should scrap the law allowing student loan debt to be retained in bankruptcy (not applied retroactively, just for all future loans). Which will in turn mean less loans handed out and for lower amounts, which I'm sure will upset the modern crop of students eager to spend beyond their means but too damn bad.

The thought of such handouts pisses me off, and I can't even imagine how someone who never went to college and had to work their way up to a decent job must feel about the whole thing.