Noam Chomsky Quotes

Debt is the prolific mother of folly and of crime; it taints the course of life in all its dreams.

The federal government requires that its loans be paid back within 10 years of graduation, and Harvard has pegged its loans to the same 10-year timetable. Yet despite Harvard's low default rate, the idea of years of loan debt is daunting for some students even before it's time to pay back.

There's more student debt than credit card debt! Everywhere I go, I run into young people trying to build careers while they keep shelling out money on their education loans. If the economy is looking for a new generation of home-buyers, I can't imagine they'll get it from these folks.

The only thing wrong with student loans is that you have to pay them back.

We need to stop the vicious cycle of debt that is strangling us.

Once you get into debt, it’s hell to get out. Don’t let credit card debt carry over. You can’t get ahead paying eighteen percent.

A man in debt is so far a slave.

Without any formal personal finance instruction in our high school or college curricula, many college seniors who graduate in the red will continue to make common financial mistakes that only exacerbate their debt burdens.

Ever since going up to university, I have accumulated new debt, and new means of becoming indebted.

We all think we're going to get out of debt.

Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans.

Debt can be the most addictive thing in the universe, and it can kill you. You get used to living high off the hog. It was intoxicating.

Debt is a prolific mother of folly and of crime.

No 22-year-old should have to enter the real world already in a virtual debtors' prison.

Remember this: debt is a form of bondage. It is a financial termite.

I promise not to take my thousands of dollars in student loan debt and move to Mexico. At least not right away.

When you have a debt that's strangling you, you're not growing.

Student debt is crushing the lives of millions of Americans. How does it happen that we can get a home mortgage or purchase a car with interest rates half of that being paid for student loans? We must make higher education affordable for all. We must substantially lower interest rates on student loans. This must be a national priority.

If you have debt, you have to worry about it. I would challenge each of you to try to be debt-free.

Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.

There are no shortcuts when it comes to getting out of debt.

Anybody who has ever been in business, anybody who has ever paid bills, anybody who has ever lived in a serious adult life knows that indebtedness is a killer.

Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.

Even if you feel like your debt is just never going to go away, think long and hard before declaring bankruptcy. Declaring bankruptcy means that getting a loan for anything will be next to impossible for the next 10 years.

Too many young people graduate laden with debts that take years, if not decades, to pay off.