Student Loans = Lying to Students

So I have been thinking alot about the principles behind student loans lately and have come to the conclusion that it is one of the biggest scams out there. The reason for this is that as a 17 or 18 year old you have little to no concept of the reality of college costs or debt. All you want at that age is to go to the coolest school you visited or the one that has your major or your friends. Little else matters, least of all the idea of having to pay back that decision in 5 or 6 years when you are making more money than you ever have before. As college tuition raises, whether or not this is legit, the harsh reality is that most students who want to pursue a college degree will be forced to take out large amounts of debt to pay for it. Many kids live fairly comfortable for 4-5 years in college and then graduate with a degree that limits their opportunities and options. Say for example you are a marketing major at a Public University, and had little to no help from your family. You are likely 30k in debt at this point and forced to take the first available sales job offered you. It is likely terrible with a salary of somewhere around 30k. All of a sudden your take home pay of 2000 a month is cut to 1600 after you pay 400 bucks a month in loan payments. Add in rent, car, insurance, and all the other pricey things that new grads face and you have very little left over for 401k or savings. However, none of this is all that terrible considering that a 22-23 year old grad doesnt deserve to have a new car or a house, but for whatever reason (probably having to do with the fact that they were able to go to whatever school they wanted no matter the cost) they feel as though they are entitled to those things. So they take out credit cards to buy new clothes and cover daily expenses, nights on the town, and dinners out. The next thing you know these kids are in way over their heads, their jobs are going nowhere or they are being laid off in downtimes. It is a never ending cycle.

Parents today have done little to prepare for college tuitions, and do their children little good by letting them go to whatever school accepts them with the promise of a great degree (which society has made to be necessary). After all who doesn't want their children at a good school? Parents like to brag on their kids accomplishments the way a 20 something likes to brag on his new car. Whether its right or not it gives kids the idea that they can live a life of luxury that they have grown accustomed to straight out of college. There are no pensions, little social security and an increase in debt. I think the decisions of today will likely force most of this generation to work until they die. Its a sad truth but its a harsh reality. All we can do is take care of ourselves and hope that the government doesn't take it all away from us before we get to retirement.