As for financial: I have always felt if the government would police the awarded money and catch those who take advantage of the system (such as Warrrr's example) and made them repay the system, then there would be more money in the system and people who truly needed it would get it.
My worry is (and I did not know this, thanks Warrrr) that if enough student loans (esp. the Subsidized Staffords and Perkins) get expunged by Bankruptcy, there will be far less monies to put into the system as the Gov't will have to back up those loans, and Financial Institutes will be less likely to loan the needed monies out, unless you and your parents have spotless credit.
Hopefully, I'm Chicken Little here and don't understand the system at all in this aspect.
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I just love people who use the excuse "I use/do this because I LOVE the feeling/joy/happiness it brings me" and expect you to be ok with that as you watch them destroy their life blindly following. My response is, "I like to put forks in an eletrical socket, just LOVE that feeling, can't ever get enough of it, so will you let me put this copper fork in that electric socket?"
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