Rick Kelley: Press Herald

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Writing Letter to The Editor

Rick Kelley of Windham, Maine correctly and ethically asserts that students should quit crying about how much they owe in student loans. Spoiled young people these days are still smarting from the democrats crushing defeat in presidential election.  Hilary’s loss was a blow to those who feel self entitled? The left frequently speaks of loan forgiveness and Trump’s administration has made shirking  your financial responsibility a no-no! Bernie Saunders even proposed making all higher education free. 

Some seek higher education in expectation of better, higher-paying jobs than would otherwise be attainable(Rick surely means unattainable here), an admirable trait. Students must remain responsible for the costs of same, and expectations that the state of Maine will pick up the tab for their loans enables behavior that encourages avoidance of taking personal responsibility.

There’s a segment of our population that opines incessantly about how tough life is for students. Such views lack perspective. Numbers for “average” student debt reported range from $35,000 to $45,000 – as if that’s an insurmountable debt.

I graduated from the University of Maine in 1975 with a student loan of $10,000, financing college via a combination of scholarship, work and loans in roughly equal measures of a third each.

My family lacked the means to help, and it took me 10 years to pay off that debt(Thank you Rick for not whining and complaining like todays younger generation). This built character and a sense of accomplishment that otherwise would have been missing from my life experience. There is value to our young citizens in such experiences.

Does research indicate how effective a Finance Authority of Maine program, such as proposed, might be? What are the metrics? Might this be yet another example of a well-intended but misguided legislative mission for FAME? (It most certainly is)

Some of my classmates at Orono were from out of state. After living in Maine for four years during college, some liked it here well enough to put down roots and stayed. Maine sold itself without financial inducements.

Interesting factoid: $10,000 in 1975 translates to $44,600 in 2016 dollars (CPI-U index).(There you go! Your inflation adjustment proves you had the same financial burden for your student loan as the sniveling kids today!)

 

 

 

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