Not to go all Scrooge-y here, but I found this sentence in your Sunday Op-Ed on the various competing bubbles to be...how do I put this...crazy "...folks in the Middle Class taking out student loans they can't pay back even as they get relief for the mortgage loans they also can't pay back." Huh?

 

This is exactly the kind of thinking that has us in the shape we're in, both on a personal level and in governments across the globe. Why would a person apply for a loan they know they can't repay? And on top of another one? More to the point, why would an institution lend to someone who they know can't pay it back? On a macro level, Governments do the same thing, and in all cases, it's an unsustainable practice. This is the very definition of insanity...doing the same thing over and over, while expecting a different result. At some point, the insanity must stop.

 

Even when bad things happen to good people who are struggling in this economy, at some point common sense needs to enter the equation. Getting a College degree is a noble goal, but in times of hardship, compromises must be made. Luckily, the comprises available aren't that painful.

 

We have invested significantly in a perfectly fine Junior College system. More people should take advantage of the incredible value they offer. We are also paying for outstanding colleges that are much less expensive to attend than Mizzou or Illinois. There is absolutely nothing wrong with earning a degree from UMSL, SIUE, SEMO, Truman or many other less costly alternatives.

 

My parents always preached a person shouldn't spend money they don't have, an attitude passed down by their Depression era parents. They were far more wise than I realized. Many say we are in a near Depression economy now. We need to listen to our Grandparents' advice. There's no shame in that.

 

Ken Krueger

St. Louis