College Loan or Conversation Piece

When we first discussed loans in lecture I mentioned that loans could serve as motivation for a person to obtain a job that would enable him/her to pay off those loans in a quick fashion. I also stated that there could be flip side where a person any job they attain after college and find themselves gaining an increasing anxiety from feeling as if the loans will never get paid off. After class I realized that problem isn't so much the loans, it is more so people's motives for taking out the loans.I've realized that college is the beginning of positioning for a social standing or perception for some people.

I recently had a family member graduate high school and begin college. After searching for many college's one was chosen. The particular school that was picked was out-of-state and had a fairly expensive tuition. After evaluating the options it was determined the best choice was to take out a loan for an amount a little less than the sum of all my loans over 4 years. I found the situation was one where those around him essentially pushed his college decision as a means of having his college attendance as conversation piece. It would have been much more economical to simply attend community college for 2 years and then transfer to a university, but unfortunately community colleges don't necessarily sound as intriguing.

Whether it be buying an expensive car or big house, the notion of keeping up with the Joneses begins with saying you attended a notable or expensive college and that is where the problem with college loans begins in my opinion. When people start making more economical college choices the college loan meltdown will subside.