Optimal Relationships Daily - Dating, Marriage and Parenting 2712: I Don't Want My Kids to be Crushed by Student Loans. Do You? by Michael Smith with Financial Finesse on Financing College
Aug 31, 2025
Explore the hidden dangers of student loans as Michael Smith shares alarming statistics and personal stories. Parents are offered practical strategies to guide their kids in making informed, cost-effective educational choices. Learn about the importance of comparing educational ROI and the vital role of scholarships. The discussion reveals the stark reality of how soaring college costs can lead to crippling debt, emphasizing the need for careful planning. Equip your children with money skills to avoid a lifetime of financial burden.
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Extreme Case Illustrates Debt Harm
- Michael Smith references an extreme case featured in a documentary about a young man ruined by student loans.
- He uses that story to highlight the growing number of graduates crushed by debt.
Student Loans Create Long-Term Budget Strain
- Student loan debt is creating long-term financial burdens that push graduates to delay major life milestones.
- Many people pay more for loans monthly than they do for rent and may carry payments into their 40s.
Prioritize Dedicated College Savings
- Save early into a 529 or similar education account to build a dedicated pool for college costs.
- Contribute as much as possible without sacrificing retirement savings.
