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College students today are drowning in debt, and it is hurting them and hurting our economy. We must find a way to help families pay for college without condemning them to a lifetime of indebtedness.
Elizabeth Warren
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Elizabeth Warren
Age: 75
Born: 1949
Born: June 22
Economist
Jurist
Lawyer
Politician
Teacher
United States Senator
University Teacher
Writer
Oklahoma City
Oklahoma
Elizabeth Ann Warren
Senator Warren
Elisabeth Warren
Find
Pay
Indebtedness
Without
College
Condemning
Must
Economy
Hurting
Way
Hurt
Drowning
Education
Families
Help
Debt
Helping
Lifetime
Today
Students
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Now look, you built a factory and it turned into something terrific or a great idea, God Bless, keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and paid forward for the next kid who comes along.
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What we collectively decide about how to bail out our economy, how to pull our economy out of a ditch and what rules we put in place to make sure this problem does not happen again, will shape our country for the next 50 years. This is it.
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Barack Obama heard the American people.
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I hear all this, you know, 'Well, this is class warfare, this is whatever.' No. There is nobody in this country who got rich on his own - nobody.
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I love the work I do.
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Get your money in balance. One rule of thumb is 50/30/20. Spend about 50% of your money on must-haves - things like rent, car payments - and about 30% on wants, while 20% should go toward savings and paying down debt.
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Сount dollars, not pennies. Look at the big-ticket items, in your budget.
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You know, the old version was about balancing a checkbook. The new version is about the risks of debt, which is so much more widely available. So I think it's important that we design relevant financial literacy courses, and teach them starting early in grade school.
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We don't win what we don't fight for.
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My response [to fear of being poor]was to study contracts, finance, economics, to plan, to have a goal, to work on that goal. To learn everything I could. I always poked at the things that scared me most.
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I don't like credit cards. They make overspending very easy. They can make life a lot more complex and stressful.
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Credit cards are like snakes: Handle 'em long enough, and one will bite you.
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The bankers might not have said it in so many words, but gradually their strategy emerged: Target families who were already in a little trouble, lend them more money, get them entangled in high fees and astronomical interest rates, and then block the doors to the bankruptcy exit if they really got in over their heads.
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