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Seems like advice for a straw man. Author bases the whole diatribe on people he doesn't know around his college town. He presumes that everyone around him carrying gadgetry and nice clothes must be destroying themselves financially to do so, and can barely afford to eat.

While no doubt these people actually do exist, IMO author is really reaching here. This reads like "I'm starter than all these idiots".

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While you're correct about not generalizing, the number of students who are in debt is enormous[1]. Everyone wants to be amazingly educated with all the latest awesome gadgets, and unfortunately, it really is causing a lot of problems for society. The author really is doing a good job for himself if he is saving up some money and getting out of debt.

We'll see how it goes...

[1] http://www.asa.org/policy/resources/stats/default.aspx

I wonder if taking out a student loan puts people in a mindset where they are more willing to take on debt?

If you're already borrowing some thousands of $ for an education on the basis that you will "make it back when I graduate" what's a few more hundred $ for an iphone?

That was my mindset when, after college, I got my first credit cards. What's another thousand bucks on top of 30k?

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