So, why am I bringing this up 16 years later? It’s because I read an article about a woman named Cortney Munna who racked up $97,000 in student loans because she insisted on attending a prestigious school. Ms. Munna and her mother are complaining about the large amount of debt and seem intent on placing blame on lenders for lending.

Ms. Munna is complaining that $22 per hour isn’t enough to pay the $700 loan payment. Personally, I think $22 is a good hourly wage, especially considering that she studied religion and women’s studies in college. The last time I checked, those fields weren’t exactly up there on the list of degrees or majors that will facilitate wealth. Business administration they are not.

The author of the article also tries to draw comparisons between student loans and subprime mortgages. There’s no doubt that there are commonalities. The biggest is that irresponsible, ill-informed people borrowed money they either can’t, or won’t repay. No matter how you try to explain the problem, that’s what it boils down to in the end.