Not sure I need to comment

Most Latino students spurn college loans

“My parents have always said, ‘If you don’t have the money to pay for it, then work for it,’ ” Fernandez said.

Educators and financial aid experts said the cultural aversion to loans — considered a sign of a strong work ethic — is common among Latino immigrants and their children. And it creates an odd dilemma in academia.

Financial aid experts worry that students who rely heavily on loans are taking on too much personal debt to pay for college, but educators are trying to convince Latinos that school loans, if used wisely, can lead to high-paying jobs later.

“The majority of Mexican clients we had, I noticed, liked to pay in cash,” said Coronel, 22. “They were insecure about credit or borrowing, as they thought fraud would be a possibility. I think we learned that from our parents.”

Researchers said the loan phobia isn’t limited to the Latino community but is a common apprehension among students from low-income, immigrant, or first-generation college backgrounds.

2 thoughts on “Not sure I need to comment

  1. pentamom

    Otherwise known as the ethic that built the post-Depression, “greatest generation” we’re always hearing about.

    World turned upside down, indeed.

    Reply
  2. Pingback: Financial aid is a snare « Lord, Deliver Us

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