Episode 150: A Culture of Envy
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Introduction
Senator Rand Paul introduced a bill that would allow people to use their 401K savings to pay down their student loans. The typical student owes about $30,000 upon graduation and the average American at age 31 is roughly the point at which you'd be paying off your student loans. People have a tendency to grow their spending to match their incomes. Paying off a student loan frees up a chunk of money that you would otherwise be paying to the student loan people.
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