“I spent decades in consumer lending. While servicers and lenders are often portrayed as guides, borrowers shouldn't rely on their advice ("Student-Loan Debt Is Strangling Gen X," Page One, Oct. 2). Why? They tend to work in their own interest. It's the reason so many student-loan borrowers find themselves trapped in cycles of deferment, forbearance or minimum payments that allow balances to balloon rather than shrink.
The deeper cause of this crisis, however, is the extraordinary rise in the cost of higher education over the past three decades. Student loans became the easy "solution" to skyrocketing tuition, but they masked the real problem of unsustainable pricing.
The best way forward for borrowers who find themselves in this situation is to take the long view built on a strategy for debt elimination, retirement savings and family security. That plan must extend beyond today's bills to include teaching their children how to handle debt responsibly, something they won't learn in school.
Student-loan reform may help at the margins but lasting relief requires tackling runaway education costs, and families developing and sticking to financial strategies to build real security.
Goodyear, Ariz.” [1]
The American-style loan system introduced in Lithuania also tempts universities to increase profits based on rising education costs. Let's elect politicians who can dismantle the student loan system introduced by the conservative Kubilius and the liberal Steponavičius.
1. Why Gen X Is Buried in Debt. Wall Street Journal, Eastern edition; New York, N.Y.. 07 Oct 2025: A16.
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