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$200,000 in Student Debt. Who Will Marry This Debt?

Written by Gary North on August 27, 2012

Would you recommend that your son marry a woman with $200,000 in student debt? I hope not. Would you describe what it means to be @00,000 in debt at age 23? Would you sit down and go through what it means for his credit score? How no lending agency will loan him enough to buy a home. How every child will add to this burden. How he will never pay it off.

This young woman ran up a $200,000 debt to attend a university you have probably never heard of. Why? Because no one in her family ever sat down with her and warned her.

She could have earned a N.A. degree for $15,000. She could have worked part-time at McDonald’s and have paid for everything. But her family did not know that any student can do this. She was the first person in her family to attend college. Her parents knew nothing about what she was getting herself into.

These kids are sheep led to the slaughter. Their parents are so proud that they got into an obscure school. They think it is the way into the middle class. In fact, it is the way into lifetime servitude and single living.

If your child plans to marry a college graduate, you had better run a credit check on the the person who is about to become a lifetime partner. You had better have your lawyer draw up a pre-nuptualagreement in which your child does not become responsible for the marriage partner’s existing debt.

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5 thoughts on “$200,000 in Student Debt. Who Will Marry This Debt?

  1. It would be nice if you would explain how to avoid this instead of just point out everyone else's mistakes.

  2. Anonymous says:

    Can a pre-nuptual agreement really work:
    a) while you are married?
    b) in the case of divorce?

    Will the courts honor it?

    Even if the courts honor it, what happens to the responsible man's credit score, while he is married to a huge debtor?

  3. GaryNorth.com has the answers.

  4. Kitty Litter says:

    Hey all..I attended UCBerkeley..and received a secondary credential for $2K…and then worked the rest of the debt off. I taught for 23 years…and still do now and again..I still do not understand why anyone would put themselves in that much debt? I feel that education is 'an intelligence test' while you are in it. Are you going to put yourself in a vulnerable position with debt..or are you going to get the education you FEEL you need.. resourcefully and with little debt..which puts less stress upon you after school. I mean, who wants the stress? Finding a good job..staying on it..that's stressful enough…..

  5. Why would anyone put themselves in that much debt?

    We have only to look at the example of the federal government for that. It is the underpinning of the entire country, and it has to take out a payday loan every 6 mos to make the payments on what it already borrowed — while giving free gunboats to the Kenyans in return for — their gratitude.