Thoughts on cancelling student debt

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One of the most beautiful campuses ever. UC Santa Barbara where my son went to school.

I want to know what your thoughts are about cancelling student debt. The current administration is considering cancelling $10,000 per debt holder. Some are pushing for $50,000.

Personally, I believe a contract is a contract. If you cancel a loan for college, why stop there? Why not cancel mortgages, car loans and credit card debt? Of course, for those loans there is the option to file for bankruptcy. But not with student loans. Maybe that law should be overturned?

What does this say to those who chose to enlist in the military to help pay for their education? Or those who chose community college not to mention those who paid their loans? What about people who entered into trades like electricians, contractors, plumbers and hair dressers? Should they be paying for a doctor or teacher who has a ton of debt?

The point is the debt doesn’t magically go away. It gets passed on to the rest of us. Many universities have huge foundations. I’m not against the institutions forgiving debt. They could do it.

What do you think? If you disagree with me, please let me know what I’m missing. I truly want to know other points of view. What solutions do you suggest for overwhelming student loan debt?

Not Quite Ready for Prime Time — Why Kids Aren’t Ready for College

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My son left for college four years ago. Looking back on his freshman year, he said that he was totally unprepared.

In my opinion, his freshman year was a failure because of extenuating circumstances. A crazy, drug-induced roommate. A fall off his bike and the need to come home for reconstructive surgery on his hand. Those two things could mess up anyone’s freshman year. But, he said he wasn’t ready to take care of all the parts of his life and study, too.

I wrote about skills our kids need to learn before they leave for college here in the “Top Ten Things Kid Need to Learn Before College.” I learned from my son, the simple things that I thought my kids knew, but did not. I took for granted that he could buy things at the store, or hang onto his wallet. Or that he’d know what to do if he lost his wallet.

Palm Springs Aquatic Center where my kids spent their youth.The second time around — with my second child — I tried to make sure she was better prepared. I was talking with a few swim moms yesterday. Part of the problem is us. The sheer volume of hours our swimmers spend at the pool topped with homework gives us an excuse to treat them like kings or queens. We do everything for them, and they don’t learn how to take care of themselves. We are crippling their growth and development and we are guaranteeing that their first year of college will be harder than it needs to be.

My son lived in a house with seven guys his sophomore and junior years of college. He said they were all brilliant, gifted students — and the house was a mess — and the bills went unpaid.

dishchart_lrgI asked, “Were they all prima donna’s?”

He answered, “Pretty much. Because they were ‘gifted’ in school, their mothers did everything for them all the time. Its was like, ‘you need to study to get As in your seven AP classes. Let me take care of this for you.’ ”

Before you jump in and strip the bed and wash the sheets — just stop. Let your child do it. Yes, their schedules are crazy. But, yours is too. Let them do more for themselves.

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I spent my daughter’s senior year driving her lunch to school. She’d text me for Chipotle, pizza, or whatever — and I’d stop everything I was doing — buy her lunch and deliver it. I’ll admit it, I enjoyed it and knew my days as a hovercraft were numbered.

Your child’s freshman year of college will be an adjustment year. Do whatever you can to prepare your kids to be successfully independent.

Doing less for them is doing more.