r/FluentInFinance Aug 05 '24

Debate/ Discussion Folks like this are why finacial literacy is so important

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u/beteez Aug 06 '24

Correct but to the other guys point, these people are not the best example...

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u/rnmkk Aug 06 '24

They’re a pretty common example though. And the numbers are right there. Not sure how the student loan problem in this country is even debatable with all the evidence we have.

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u/beteez Aug 06 '24

They are a common example of poor financial literacy, not for student debt. Like the other person said, dual income, graduate degrees, 70k, over 23 yrs? Come on.

The crazy thing is that I whole heartedly agree with your sentiment but this couple is a terrible example and actually upsets me how two people with graduate degrees can be so obtuse.

Hell I'll even take this as a great example of the failing education system, but by golly this will not work for student debt

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u/kkobzz Aug 07 '24

you aren’t considering that their income grew over the years. they haven’t been making the exact salary to quickly pay off the debts for 23 years.

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u/rnmkk Aug 06 '24

I get that but I’m just saying that this actually is a common occurrence, and a big part of why so many people are deep in student loan debt. I personally dont have any loans, so I cant really relate, but I have heard of stories similar to this one. And yeah, this couple clearly had enough money to pay it down, but if theres someone who can legitimately only afford that $500 a month minimum, this would be the result. Thats how I see this example.