In your opinion, are student loans designed to keep the vast majority of people who have them poor?

Enna Morgan, former Faculty at Tsinghua University (2017-2018)

Updated Jan 14, 2021

Student loans aren’t designed to do anything other than to make the financier rich! And there’s nothing pathological in that.

Their secondary aim is to aid eligible students in financing their education.

‘The vast majority of people who have them’ keep themselves poor by,

  1. Accepting them
  2. Not bothering to understand how the process works
  3. Not paying for them
  4. Following conventional wisdom, and not putting the effort into researching alternatives funding methods
  5. Failing to do the simple math before accepting the loans, or entering college
  6. Failing to stay on track with their education….Or their communication
  7. Simple lack of confidence!

I worked for several years in the university’s Student Affairs office, so I know!

I have never had a student loan, and I have zero debt owing on my education; there’s the proof that it can be done. And when I began my undergrad at the university, it was with a fresh brain injury (TBI). So even in that condition, I completed 6 years of full matriculation, with no loans.

And no, there was not a Sugar Daddy involved. In fact quite the contrary, I was going through a divorce, hence I was a single parent of two young children, struggling to make mortgage payments on the home by designing hats and clothing, when I wasn’t curled up for days in the bed, staring blankly at the ceiling.

So there is really no excuse to be ‘ kept poor,’ with as little as an ounce of savvy and a whole lot of gusto, anyone can do it!

Thanks for the A2A, Devin

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View question on Quora: https://www.quora.com/In-your-opinion-are-student-loans-designed-to-keep-the-vast-majority-of-people-who-have-them-poor/answer/Enna-Morgan