NBC News - As 1 in 5 American adults wonder how to pay off their combined $1.6 trillion in student debt, Sallie Mae executives and sales team members wrestled with a different question: Between meetings, how should they spend their time on their five-day paid trip to the luxury Fairmont resort on Wailea beach in Maui?
Sallie Mae brought more than 100 of its employees to Hawaii in August to celebrate a record year — $5 billion in student loans to 374,000 borrowers. The company said it didn’t pay for employees’ families to attend, but some did tag along.
“We said, ‘Hey, look, Maui is a pretty nice spot.’ And so if you wanted to stay a few days or want to bring family, that’s up to you,” Ray Quinlan, CEO of Sallie Mae, told NBC News on the grounds of the Fairmont Hotel.
Want to guess what the CEO of Sallie Mae looks like? You can probably figure it out. Think evil villain from a low-budget action movie who has a maniacal laugh and a shady history in Thailand. Ready?
Perfect. That is the guy who is nickel and diming all of America’s youths I mean making college more affordable for all Americans.
But of course people are big mad that he took 100 executives and salespeople to Maui to celebrate their biggest year yet. One of the biggest issues in America right now is the never-ending student loan debt, and he’s basically the enemy of every kid aged 18-35. But I gotta say, I have no problem with this move. He runs a for-profit business….
Everyone is getting student loans! College is more expensive than ever! It’s hard as hell to get a job! Nobody can afford anything! Life is GREAT if you’re in the student loan business. Absolutely fantastic.
So what would you like Sallie Mae to do, pretend they aren’t making money hand over fist? If I’m that CEO I’m putting a robe made of 100 dollar bills when I get out of my pool that is made out of diamonds. If I’m that CEO I’m not just flying to Hawaii, I’m BUYING Hawaii.
And look, I’ve written about this longer before (link below, very good blog if I don’t say so myself), but we all know college is a joke. The price is ridiculous. The fact entry level jobs mostly require a college degree is a joke. The fact the university system is so engrained in society where you are a step behind the rest of the world if you either 1) can’t afford college, or 2) are forced to take out massive loans with high interest rates just to take bullshit prerequisites that don’t help you whatsoever in your life is basically theft. Oh you want to be an engineer? That’ll cost you $30,000/year but you need to take Astronomy 101 and Home Ec. Beyond stupid.
So while the system is corrupt, can’t hate the CEO for living his best life. As they say, don’t hate the player, hate the game. And for the love of God, pay off your student loans ASAP. You don’t need some safety netting in your savings account while you’re paying 13% interest rates on your loans making minimum payments on them. Every time you get an influx of cash, do a big time student loan payment. You’re lighting money on fire if you do anything else. That’s how I paid my student loans in 7 years. I just put all my extra money into paying them off and boy am I glad I did. Fuck student loans forever.
And if you go to grad school or med school, my prayers are with you.
Link to full college is a joke blog: