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发帖数: 778 | 1 http://finance.yahoo.com/news/9-unbelievable-student-loan-horro
Poor kids, they should read the quote by President Clark.
The trick is making compound interest working for you, not against you.
The complete quote is as follows:
It is a rule of our financial and economic life in all the world that
interest is to be paid on borrowed money. May I say something about interest
? Interest never sleeps nor sickens nor dies; it never goes to the hospital;
it works on Sundays and holidays; it never takes a vacation; it never
visits or travels; it takes no pleasure; it is never laid off work nor
discharged from employment; it never works on reduced hours; it never has
short crops nor droughts; it never pays taxes; it buys no food; it wears no
clothes; it is unhoused and without home and so has no repairs, no
replacements, no shingling, plumbing, painting, or white-washing; it has
neither wife, children, father, mother, nor kinfolk to watch over and care
for; it has no expense of living; it has neither weddings nor births nor
deaths; it has no love, no sympathy; it is as hard and soulless as a granite
cliff. Once in debt, interest is your companion every minute of the day and
night; you cannot shun it or slip away from it; you cannot dismiss it; it
yields neither to entreaties, demands, or orders, and whenever you get in
its way or cross its course or fail to meet its demands, it crushes you. (J.
Reuben Clark Jr., in Conference Report, Apr. 1938, 103). |
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