I'm supposed to be relaxing; I turned in my grades last night. But this morning I listened to yet another installment of Student Debt Woes and Warnings. This time it was NPR.
I noticed that the students with the most debt attended private colleges. I can't help thinking that these schools, with their increases at double the rate of inflation for many years, are to some degree complicit in the problem. There are fewer articles on how student debt is GOOD DEBT. (Similarly, there are fewer articles on how MORTGAGE DEBT is GOOD DEBT). The idea was that GOOD DEBT was an investment in an appreciating asset, while bad debt was spending on a depreciating asset--like a television.
All I have to say at the moment: consider public education. Your debt will be smaller.
I have other things to say too, but will do so later. Oh yeah. Can't resist. Take the student debt quoted when you apply for your loan and MULTIPLY BY FOUR. And add on for the inevitable inflation factor.
Any words of wisdom on this topic?