If education is priceless, why do so many people with an education lose their homes from massive school loans?

Answer 1

Huh? If someone graduates college with student loans, they almost certainly do not own a house which they can sell to pay off the debt.

Anyway, in CA the public colleges used to be free for CA residents, until a governor by the name of Reagan saw education as a place to cut money in the budget. Since then, the universities have chosen to charge tuition rather than sacrifice quality, and tuition has risen ever since, just like at other colleges. State and federal grant programs have not kept up with the rising cost of college, so more and more students have to take out bigger and bigger loans.

Answer 2

Because a lot of people have a sense of entitlement and they think they should be able to live the lifestyle of a professionally employed worker while they are students. Therefore, they take out extensive loans to pay for everything- rent, food, tuition, books- instead of working and living cheaply. Additionally, students are young and young people are frequently irresponsible, and lending companies know this and make money off of them. Most people get into debt from credit card use, expensive cars and student loans while they are still very young. It's quite sad.

I don't think students should take out expensive loans unless they know they will end up getting very well-paid. For example, two of my friends went to private universities. They both took out about 100K in student loans. One studied an exclusive and well-paid branch of law and now makes nearly 200K a year. In the long run, her debt is certainly worth it. The other works in social work and makes around 36K a year. She can slowly work her way up to around 45K a year, but she will never make more than that. Were her loans worth it? Financially, no. But she is happy in her job and feels that it is meaningful and makes enough to pay the lowest bit on her loan each month. So to each their own...

Answer 3

Educating oneself is priceless... obtaining proof (i.e. a degree) that you have done so in a structured environment by fulfilling the demands of that instituition is what costs money. Libraries have tons of useful information- especially regarding history, which are never taught in the American school systems. As someone, who is 1 year away from obtaining my doctorate- I can easily say, it's all a big scam!