Graduates of the College Feel "Empowered" by debt

I was surprised by the New York Times as "College Students Do not look at debt as a burden." Of course, I had to read the article to see what was happening. Then the surprise turned to shock. According to the article, debt average student loan for college graduates in 08 was over $ 23,000. Add to that the fact that students have at least one credit card carried an average of over $ 4,000 in debt on it. This heading towards $ 30,000 of debt! In perspective, the average salary of a person graduate this year is $ 46,000 that is if they can find a job, the unemployment rate hovering near double digits.

But that's not what shocked me. Many students need loans to pay for college. No loan does not mean education. I understand. It is what they said next that lead me to think that I'm living in a parallel universe. Instead of feeling overwhelmed or stressed by debt, they feel "power." Yes, you read correctly. According to a study by Ohio State University, many students feel empowered by reason than money.

The article continues: "More college loans and credit card debt that young adults 18-27 have, the more self-esteem and control more they feel they have on their lives. They tend to see the positive debt, rather than as a burden. "

Where is the reality check? Where are their living relatives this? Where were they the message the debt, especially credit card debt, is a boost self-esteem?

Although it seems strange college education graduate something so fundamental, they need to understand these three basic principles- and hopefully start practicing:

1. Get debt under control
2. start saving
3. Protect your assets

this page for singles, and this page for those with young families can help with information and links the bottom line. There is no debt financial security