Debt Tricks

So students on state scholarships, right? They enroll in a bunch of courses. Classes start and they drop all the courses. The system automatically sends them a check with a refund which they are supposed to use when they register for courses again. Students spend the refund. Use late registration to register for courses. And end up with a pile of debt. Which they don’t care about because they are not physiologically equipped to do long-term thinking.

Of course, the system is stupid because you can’t let them come close to cash. They’ll just spend it on dumb stuff.

15 thoughts on “Debt Tricks”

  1. \ Students spend the refund. Use late registration to register for courses. And end up with a pile of debt. Which they don’t care about because they are not physiologically equipped to do long-term thinking.

    At which age does one become “physiologically equipped to do long-term thinking” in your eyes?

    If the students are not physiologically equipped , aren’t their parents neglectful in not following their children’s financial situation?

    I was probably less independent than your average student at 18, but cannot imagine being not worried about finances while increasing my debt. If unsure how to manage money, I would’ve turned to my relatives and followed their advice.

    On a different topic, those five quotes of the week sound like a joke but unfortunately aren’t:

    Топ-5 цитат недели
    https://trim-c.livejournal.com/3205942.html

    And somebody wrote a poem reimagining Greta had she been born in Russia. My favorite stanza:

    В деревне, в доме бабки Греты
    прошел бы обыск в пять утра,
    оставив бабку без планшета,
    часов и гречки полведра.

    https://lleo.livejournal.com/371500.html

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    1. The brain completes its formation by 25.

      I got into debt in a silly way at these students’ age, so I don’t judge. And parents have no legal right to interfere in the finances of their adult children.

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      1. \ And parents have no legal right to interfere in the finances of their adult children.

        I was not talking about legal rights. Do your students habitually lie to their parents or refuse to talk to them?

        One would expect parents to show interest how their kids are faring, especially if they provide any help.

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          1. // If people in their late teens-early twenties don’t habitually lie to their parents, they are developmentally challenged. :-))

            Are late twenties the age at which people become developmentally challenged, if they don’t stop lying? 🙂

            But what to do, if one hasn’t begun to lie in the first place? 🙂

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      1. “By the way, we are legally prohibited from letting people know if the kids are failing or dropped out, even if parents are paying for the schooling.”

        -My mom hates this because when I went into my last major depressive episode I wasn’t attending classes and nobody contacted her or offered to contact me on her behalf. The dorm supervisor knew. All the resident assistants knew. The entire residence life department knew. And nobody did anything.

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        1. This blows my mind, too. If I were a funding agency giving a scholarship, wouldn’t I at least get a summary of the courses, GPA, some sort of information that the money is being used for what it’s intended?

          I could be paying tens of thousands every year for years and the kid could be just not progressing toward a degree at all and I would have no right to know anything beyond what he deigns to tell me. I am not worried about my eldest son, as he’s conscientious about his work and we have a good relationship, but my middle kid, now in middle school, has a bit of a trickster personality, so I could totally imagine him pulling something like dropping classes or not progressing toward a degree, while I keep paying but am kept in the dark.

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          1. // I could totally imagine him pulling something like dropping classes or not progressing toward a degree, while I keep paying but am kept in the dark

            A parent can condition financial support on being updated by the kid: looking together at the data in the university personal website and discussing the number of courses taken and grades.

            In all relationships I’ve witnessed, sharing grades was naturally done all the time.

            // My mom hates this because when I went into my last major depressive episode I wasn’t attending classes and nobody contacted her

            But if you wanted her to be contacted, you could tell the dorm supervisor in advance about depression and permit to contact your mother in case of an episode. You can do it now too – depends on what you want.

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  2. Now rabbis are against Zelenski too:

    “В Бабьем яру выступил раввин Блайх.
    Он сказал: “Впервые Украина выбрала президента еврея и впервые за годы независимости сюда в этот день не пришел президент Украины. Он же еврей, ему не надо”.

    https://marko19511.livejournal.com/1611535.html

    Is he afraid of seeming “too Jewish” and thus takes care not to come close to any Jew whose name isn’t Igor Kolomoyskyi?

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    1. OK, he did go, he did bring a wreath. It’s a big beautiful wreath. If somebody didn’t see him there it didn’t mean he didn’t show up.

      I feel weird defending Zelensky but of course he went. And no, nobody gives a toss he’s Jewish.

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  3. Of course, some kids do that. However, it’s not a majority of them. I know of one case in which the student had to drop out because a parent took the funds and used them for another purpose.
    Most of the kids on aid that I’ve met have been both conscientious and hard working. The “trust fund” babies are another matter.

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