Dang. I worked with a technician who has bigtime PLUS payments. He told me that many of his neighbors in Salinas took out loans against their houses to pay for "stuff". They were foreclosed open and all of the vacant homes on his street brought down the value of his home and he still has the PLUS payments.
Poor guy. I didn't have the heart to tell him too bad he didn't finance his kid's education with the equity loan then walked away like his neighbors did. Probably he thought of that one already.
my parents took out a term life policy on me shortly after I went of to college
Everyone is an individual, and every individual's paths are individual. But so many people follow a path that includes a car expense, a partner, a childcare bill (or a single-income parenting responsibility), a need for educational expense for new dependents. Some of these paths may even include debt.
The time to get the term life policy is when we're healthy teenagers or young adults, when the premium will be cheap. Because of the typical arc of the typical life of the typical young person, that's when the insurance is most needed.
Call me stupid for not "thinking of it myself". Yes I am stupid. Every once in a while I read something on a blog that I am glad I learned. Thank you for sharing.