FBD
06-25-2011, 05:47 PM
From the Dept of...are you friggin kidding me :-s
http://researchnews.osu.edu/archive/youngdebt.htm
COLUMBUS, Ohio – Instead of feeling stressed by the money they owe, many young adults actually feel empowered by their credit card and education debts, according to a new nationwide study.
....
“Debt can be a good thing for young people – it can help them achieve goals that they couldn’t otherwise, like a college education,” said Rachel Dwyer, lead author of the study and assistant professor of sociology at Ohio State University.
...
“Surprisingly, though, we found that both kinds of debt had positive effects for young people. It didn’t matter the type of debt, it increased their self-esteem and sense of mastery.”
...
Results showed that those in the bottom 25 percent in total family income got the largest boost from holding debt – the more debt they held, both education and credit card, the bigger the positive impact on their self-esteem and mastery.
...
and they end it with:
“Debt may make young people feel better about themselves in the short-term, but that doesn’t mean it won’t have negative consequences in the long term,” she said.
“We found that the positive effects may wear off over time, but they still have to pay the bills. The question is whether they will be able to. There needs to be additional research to answer this question.”
The study was supported by a grant from the National Science Foundation.
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Two things: (http://adaptivecurmudgeon.wordpress.com/2011/06/18/causation-and-correlation/)
1. Debt is not a resource. Ever. To anyone. Access to credit might give you options but debt alone (as opposed to what you might have bought with it) is inherently negative. It never improved the financial picture for any person, corporation, organization, or nation. It simply isn’t positive. How hard can that concept be?
2. If you need a better “self concept” (whatever the hell that is)…earn it. Self esteem, like love, honor and pride, cannot be purchased.
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So basically, if school administrators treat student debt as if it is a good, necessary, productive thing, that may enhance their(student's) sense of self value by running up huge bills that will provide a great source of stress once the candy high of college wears off and the real world sets in??? :facepalm: I cant believe we taxpayers pay for airhead 'professors' to sit around and think of these things...you REALLY think you're 'helping the children,' lady???
http://researchnews.osu.edu/archive/youngdebt.htm
COLUMBUS, Ohio – Instead of feeling stressed by the money they owe, many young adults actually feel empowered by their credit card and education debts, according to a new nationwide study.
....
“Debt can be a good thing for young people – it can help them achieve goals that they couldn’t otherwise, like a college education,” said Rachel Dwyer, lead author of the study and assistant professor of sociology at Ohio State University.
...
“Surprisingly, though, we found that both kinds of debt had positive effects for young people. It didn’t matter the type of debt, it increased their self-esteem and sense of mastery.”
...
Results showed that those in the bottom 25 percent in total family income got the largest boost from holding debt – the more debt they held, both education and credit card, the bigger the positive impact on their self-esteem and mastery.
...
and they end it with:
“Debt may make young people feel better about themselves in the short-term, but that doesn’t mean it won’t have negative consequences in the long term,” she said.
“We found that the positive effects may wear off over time, but they still have to pay the bills. The question is whether they will be able to. There needs to be additional research to answer this question.”
The study was supported by a grant from the National Science Foundation.
-------------------------------------
Two things: (http://adaptivecurmudgeon.wordpress.com/2011/06/18/causation-and-correlation/)
1. Debt is not a resource. Ever. To anyone. Access to credit might give you options but debt alone (as opposed to what you might have bought with it) is inherently negative. It never improved the financial picture for any person, corporation, organization, or nation. It simply isn’t positive. How hard can that concept be?
2. If you need a better “self concept” (whatever the hell that is)…earn it. Self esteem, like love, honor and pride, cannot be purchased.
--------------------------
So basically, if school administrators treat student debt as if it is a good, necessary, productive thing, that may enhance their(student's) sense of self value by running up huge bills that will provide a great source of stress once the candy high of college wears off and the real world sets in??? :facepalm: I cant believe we taxpayers pay for airhead 'professors' to sit around and think of these things...you REALLY think you're 'helping the children,' lady???