Hank Johnson Quotes

I had loans in law school.

The federal government requires that its loans be paid back within 10 years of graduation, and Harvard has pegged its loans to the same 10-year timetable. Yet despite Harvard's low default rate, the idea of years of loan debt is daunting for some students even before it's time to pay back.

Too many young people graduate laden with debts that take years, if not decades, to pay off.

I listened to the students on campus in Plymouth, worried about their steadily deepening debts and how on earth they would ever escape them.

The only thing wrong with student loans is that you have to pay them back.

The loans I took out for my undergraduate degree were manageable. But my legal education was more expensive, and I paid for it almost entirely through public and private loans.

No 22-year-old should have to enter the real world already in a virtual debtors' prison.

I finished my higher education deeply in debt and with seven years of bad credit in my future.

Some people, they got housing loans, and I think they're responsible for taking a loan they didn't qualify for?

It's easy to get a loan unless you need it.

Debt certainly isn't always a bad thing. A mortgage can help you afford a home. Student loans can be a necessity in getting a good job. Both are investments worth making, and both come with fairly low interest rates.

Private student loans should be avoided at all costs.

Since most American students cannot simply pay their full tuition out of pocket, financing a college education often takes the form of loans, both private and from the government.

Nine of 10 whites in Chicago borrow from top-drawer banks and mortgage companies, which the industry calls prime lenders. They lend to people with A credit ratings, making loans at competitive rates.

I learned early on what debt means, how vulnerable it makes people, what the security of owning a home means.

Crippling student loan debt doesn't just affect those who took out loans to get an education. It harms all of us because we can't have a healthy economy without a strong middle class to stimulate it.

I know what it's like to be faced with student loans, to have rent so high you don't know if you're ever going to be able to save up and buy a home. The issues the people of my generation are going through are natural for me because I've lived them, my friends are living them.

Loans are a different experience for everyone, but the mentality you have to have is not to feel relaxed. You have to have a mindset that you're going to try harder and work harder than anyone.

Students are up to their eyeballs in loans, and it's going to get even worse. It's going to be hideous, actually. Students are going to be saddled for life. It's going to put a lot of people off going to college, which is a shame.

The average credit score of today's FHA borrowers is higher than the average American household with a score. As it becomes more costly and difficult to get a FHA loan, loans from private mortgage lenders will become more attractive and their market share will grow.

Both on an individual and a national scale, debt imprisons.

College dropouts with significant debt struggle with repayment over the course of their lives and do not receive the benefits afforded to their peers who have debt but obtain higher-paying jobs as a result of college completion.

Without any formal personal finance instruction in our high school or college curricula, many college seniors who graduate in the red will continue to make common financial mistakes that only exacerbate their debt burdens.

More than ever before, Americans are suffering from back problems: back taxes, back rent, back auto payments.

About two-thirds of bachelor's degree holders borrow to go to school, and on average they're graduating with more than $26,000 in debt.