Student Loans-A Life Sentence
Student loan: a dowry in reverse? - May. 2, 2006
An interesting article on students struggling with student loans.
I had no debt upon coming out of school with my bachelors. When I graduated with an MBA in 1982, I had only $ 6,000 in student loans and was worried about paying $ 80 a month over the next seven years. Of course, my education cost me nowhere near with a lot of these kids are contending with today. Education costs have spiraled out of control.
One has to really look at the cost benefit of college nowadays. The days are long gone where one could just matriculate and engage in learning for the sake of learning alone. Now you have to really comtemplate whether the cost is justified based on potential post college earnings. Otherwise, one may not make enough to service the debt incurred. The same cost benefit analysis has to be worked through when evaluating a state school versus an ivy league institution. Is the incremental cost incurred to go private justified. Are you going to earn anymore than you would by going to a less expensive instituton?
These are very important questions for students and parents to raise, especially if it will require a life long struggle with paying student loans.
An interesting article on students struggling with student loans.
I had no debt upon coming out of school with my bachelors. When I graduated with an MBA in 1982, I had only $ 6,000 in student loans and was worried about paying $ 80 a month over the next seven years. Of course, my education cost me nowhere near with a lot of these kids are contending with today. Education costs have spiraled out of control.
One has to really look at the cost benefit of college nowadays. The days are long gone where one could just matriculate and engage in learning for the sake of learning alone. Now you have to really comtemplate whether the cost is justified based on potential post college earnings. Otherwise, one may not make enough to service the debt incurred. The same cost benefit analysis has to be worked through when evaluating a state school versus an ivy league institution. Is the incremental cost incurred to go private justified. Are you going to earn anymore than you would by going to a less expensive instituton?
These are very important questions for students and parents to raise, especially if it will require a life long struggle with paying student loans.
posted by Greg L at
9:28 PM
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