Fellow is a pro at blame shifting. I liked the system blame. The system encouraged him. No, the private school encouraged him (no kidding) and his family encouraged him. The government, by subsidizing his loans and via student loan rules, enabled him.
Agreed. Stories like this frustrate me because they paint so many student loan borrowers in a bad light. Yes, there is something unsustainable about the way in which we fund public education on the backs of students and families, but $200,000 is absurd, and the writer should have known better. He reeks of arrogance and entitlement. Even when he was trying to be grateful by acknowledging that "I was educated at elite schools," that statement reveals an overinflated ego that keeps him from seeing that a big portion of the problem lies in him (and his parents, apparently, who kept him far too sheltered).
When I was a high school senior, I also did pretty well in my class, and I had the opportunity to attend Johns Hopkins University, unfunded, or attend a lesser-known state school with about 30% of the cost of a 4-year-education covered by a scholarship. Did I want to go to Johns Hopkins? Of course. Could my family afford it? No. Did I feel resentful, entitled, jealous, etc.? Yes, but I was a teenager who thought the world revolved around me. EVEN SO, I made the more responsible decision and went to the lesser-known school because I didn't want to place undue financial burden on myself, my parents, and, by extension, my younger brothers. I worked hard, and five years later I was offered admission to a funded Ph.D. program in clinical psych. Have my years of schooling resulted in significant debt? Yes, but only to the tune of about $30,000, which will be very manageable when I graduate.
The point is, so many of these stories come from students who fail to take responsibility for their actions, even AFTER they are no longer self-centered teens. Yes, college costs are astronomically higher than they should be, and many for-profit schools prey upon naive students and families. But this author's attitude of snubbing state schools because they are not "elite" makes me want to scream.