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View Diary: Closing The Door To Higher Education (19 comments)

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  •  I could no afford college today. (1+ / 0-)
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    Coming from a dirt poor family farm in NC I was the first person in my family to even graduate HS.  I went on and graduated with a BA in 1972 from a branch of the University of NC system with about $1,800 in student loan debt with something like 2% interest from the now defunct Wacovia Bank.  You see the interest rate on student loans was originally controlled and it was set low because it was guaranteed by the full faith and credit of the US government back when that meant something.  It was basically free money to the banks minus he processing fee so they were not allowed to get rich off of it.  "Those were the days my friend."

    Maybe not so ironically Wacovia went on to be the largest default in US history at the time and I think they were absorbed by Chase but not sure.   I paid my debit many years ago but they turned out to be the crooks.

    Sadly, in today's world I could not go to college.   In fact I used to think I would go back to school for an MA in something just for fun once I retired.  So much for that idea.  The only trickle down I ever got was warm and wet running down my legs.    

    A bad idea isn't responsible for those who believe it. ---Stephen Cannell

    by YellerDog on Sat Oct 12, 2013 at 08:58:25 PM PDT

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