<p>I agree with M2APG. I’ve been reading plenty of threads, many dating back several years, and while there is an opinion that a lot of debt is a mistake, the idea that a fluidly defined “something” (intellectual superiority, fit, name brand recognition…) exists is unmistakable. If a family appears to be part of the full pay club, they are more often than not encouraged to go for it. Families who seem not to have the money are assured the less expensive options will do just fine. The “for them” is never explicitly stated, but it’s understood. I’ve seen posts from some long time posters acknowledging there was a time when they routinely encouraged the higher price options until the economy went south, without seeming to realize they’re the Joneses with whom some misguided people are trying to keep up. </p>
<p>The difference between college loans and any other loan I’ve ever had (mortgage, car loans, etc) is that I had to show that I could repay the mortgage and car loan before I could get them. Unemployed teens with no collateral are not good risks for 6 figure loans. </p>