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July 14 — To the Editor:n response to David and Kellie Daigneault's letter to the Editor (July 13):As a college student, I understand your stress about student loans and financial aid. Although I do not exactly know what you mean by saying the institutions are setting themselves up for failure.The academic institutions receive the tuition money from the loan you applied for. Also, of course these loan companies are going to use compound interest and penalize you if you don't pay any student loans in four years. This is a very common practice. Car loans, mortgage loans, and bank loans.Student loans normally give you six months to a year to start paying your loans back without interest or penalty. Enough time to find any job, white collar or blue collar. When you sign the promissory note, you are promising that you will pay this loan, and if you do not, well, you pay for it monetarily. It is how the loaning company can make money off the loans; it doesn't cause them to fail. It allows them to earn money and then give more money to the next student.So by making them not pay interest, you are taking away another student's tuition. As we know, these can be hard times. Yet, if your child cannot find a job after college, maybe you should be asking your child why? College is a time to build your resume and learn a trade and excel in it. Today's college students aren't trying as hard as they could; they are failing or dropping out for a number of reasons. This includes partying, home-sickness, sickness, distractions or maybe college just isn't for them.Also, I find that recent graduates are applying for jobs that are above their skill level. They are looking to take over senior experienced jobs on the market instead of entry level occupations. I seem to have found that the mindset of these recent graduates seem to have an ego that they can take over the world. They can, but they have to do it one step at a time. If you can't find a decent salaried job, there are many blue-collar jobs that need to be filled.So my final words are, college students are not getting taxed twice, their loans are compounding, and they signed the promissory note. There are jobs out there; you just need to start at square one. Lastly, if a student learns not to consume more than they make, they will have a better chance of eliminating that debt in a timely fashion.Josh HelmbrechtKeene
Something tells me if there is a financial and mortgage meltdown, than there could be a student loan meltdown.
