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Showing posts with the label student debt

When Should You Repay Your Student Loan? How about . . . Never!

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To Owe Is to OwnDo you remember this line:  “So Romeo would, were he not Romeo called, / Retain that dear perfection which he owes / Without that title.”?  “Owes” used to mean “owns.”? 
I’ve been reading David Graeber’s book Debt:  The First 5000 Years.  It begins with the American proverb:  “If you owe the bank a hundred thousand dollars, the bank owns you.  If you owe the bank a hundred million dollars, you own the bank.”  I can remember my father telling me this.  I thought he made it up.  
Avoiding DebtI’ve always had an aversion to debt.  I think it has something to do with when I was five and my mother, as she was leaving to go to work, telling me, “If there is a knock at the door, just sit on the floor and be quiet.  Don’t answer the door; they might be bailiffs.”  Of course, like everyone else, I’ve understood that it is impossible to get on in the world without a car loan, a mortgage, a credit card and a line of credit.  Nonetheless, I’ve always been fairly obsessive about payi…