None of us had student loans; I went to college under the GI Bill.
The money we borrowed went to homeowners who either bought a new house or retired.
Eventually, all five of us bought homes. Only two of us have degrees but each of us has a nice house.
My four sisters have retired comfortably on very modest wages. I am quite proud of them and their financial acumen.
They could teach economics.
None of my three children have houses. The youngest is 26. All took out student loans.
I am sure my children will scrimp and save and eventually buy houses, as their aunts did on less education and smaller wages.
Elsewhere among today's 20-somethings, I am not so sure.
During last fall's Occupy Wall Street protest, the New York Times ran a sympathetic profile of Joe Therrien, a New York City arts teacher who took out a $35,000 student loan to enroll in the masters of puppetry program at the University of Connecticut.
(For the record, Jim Henson's degree was in home economics.)
When Therrien returned home with his master's degree, the school system had eliminated his position in a budget cut, forcing him to work as a substitute at half the pay and no fringe benefits.
We have too many Joe Therriens. This means baby boomers cannot sell their houses and move someplace warmer or at least into some place smaller when they retire.
It also means the nation's construction industry will continue to slug along.
That does not bode well for our nation.
Surber may be reached at don sur...@dailymail.com.