Thankful for Student Loans? Pshh..

- - Getting out of debt

I recently came across an article telling us that we should all be thankful for our tens of thousands of dollars of student debt.

Yes, I couldn’t believe it when I saw it either. I wanted to leave a comment on the post, but of course they didn’t allow comments on that article. So, this post is my comment. 🙂

Here is the title and awful stock photo of the article:


The person who posted this must have had a really, really good laugh beforehand. I had to double and triple check that this was not something posted on The Onion.

It kind of reminds me of the movie “A Christmas Story”. The cover of the movie has a cute kid with a really fake-looking smile who is also looking off-camera.



Do you see the similarities??

That was fun.

So anyways, you think this is going to be a nice Christmas movie, where his life is all cute and cushy…but it turns out life can be more like this sometimes:



This article cited just 3 reasons for the joy we need to have surrounding our student loans. I’m guessing it was only 3 because they couldn’t come up with any more outlandish reasons than these:

1. Student loans help you pay for college. 

Indeed. They gave me the money to get the degree I didn’t need for my current position. They also helped me feel like I could rightfully spend $72k on an education when I really only needed to spend around $20k or less. Student Loans: Putting Young People on the Worst Financial Track of Their Lives

2. Loans can help establish and build your credit score.

Ha! Who pays tens of thousands of dollars to build a credit score? I could have just gotten a credit card and put $10 on it and pay it off each month. If you want to play the “you have to be 21 to get one these days” card, well then I could have even saved myself about $45k and bought a $5k car to finance. There are so many other ways to build credit that this is just an absurd reason.

3. Certain student loans come with repayment benefits.

This one is the most ridiculous because, well, you had to go into debt to get these “great repayment benefits” they speak of.

They go on to say that you might even be able to put your payments on hold if you are out of a job. Well that sounds fantastic!

So you mean to tell me that if I’m in $50k of debt, and that degree that put me into $50k of debt doesn’t get my a job, you “might” let me put my payments on hold, IF I have federal student loans?


I’m all for being thankful for the good things in your life, but I do not agree that a student loan is one of those things. Nice try, but in my opinion student loans typically do more harm than good.

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I am Chenell Tull and so far, I've had a pretty rough time with my student loan debt. Recently, I've figured out a more productive "get out of debt" plan and the goal is to pay off over $60k in just 36 months. If you want to learn more, subscribe to the mailing list and get FREE updates on my successes and failures on this journey out of debt.