It is becoming more difficult for millennials to get jobs and purchase homes in the modern economy. Sadly, part of the cause of this is their burgeoning student loan debt, the service of which puts them behind the curve when saving for a home.
Unfortunately, much of that debt did not gain them an education. It did get them a piece of paper that mimics the sheepskin of an era in which a university education meant something. But sadly, today that is far from the case.
Today’s college experience does little to expand the mind and give the student a broad education consisting of intellectual elements. Instead, it serves more to indoctrinate them into a progressive movement that does not like to be questioned and sets them up to be debt slaves who will do little to question their new authoritarian masters: debt, employers, and government.
Many people dream of success, but by mortgaging their future to debt service they will likely never achieve it.
Following the lifestyle that the culture encourages, millennials will take on tens of thousands in debt to purchase a college degree, hundreds of thousands to purchase a home, and thousands more on a car; much like their parents have.
And with debt so cheap, why worry? You can always borrow more.
Sadly, this is a recipe for disaster. Like trapped animals, these people will have little in the way of choices if they mortgage their future. The fear of losing the ability to cover their debt service will hang over them at all times.
Don’t upset the boss – you might lose your job. Don’t tick off the bank – they may call your loan. Don’t anger the government bureaucrats – they could audit you, freeze your assets, or worse.
That’s what this generation has to look forward to if they don’t wake up – and soon.