Posted on Sep 6, 2018
Students, families struggle to repay billions in crushing loan debts
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Education
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Graduate Student
Posted >1 y ago
Responses: 7
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The key is to use the community college system. Get your associates first at low cost and then finish up your degree. Saves thousands of dollars.
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Sgt Wayne Wood
Worked for me... every little step moved me up to a better job that allowed me to advance. But i had the GI Bill as well...
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Cpl Jeff N.
That is a very smart approach if you want to avoid amassing student debt. There are smart ways to do it, some just don't consider the impact of the tens of thousands of debt because they never learned how to manage money in high school and their parents may be poor money managers (look at our 401k crisis for evidence).
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Don’t choose a useless major that doesn’t have a good earning potential after graduation. Take the maximum nuber of credits at a time allowed under the “full time” price. Don’t screw around, make sure to study and attend class so you can get your 4 year deree in only 4 years!
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If the cost of the degree cannot be offset with a job/career that will provide income to pay the loans back quickly then you likely made a bad investment. A state school, in less expensive states, can cost $20k+ for tuition, books, housing etc. So you can rack up $80k in student debt in 4 years without a lot of effort. If you end up with a degree that only commands a $40k/year income, you might have made a mistake.
People have to be able to do honest return on investment calculations. Few seem to want to do that. They just want to get into school, spend the money and try to figure it out later. That can be a major mistake.
People have to be able to do honest return on investment calculations. Few seem to want to do that. They just want to get into school, spend the money and try to figure it out later. That can be a major mistake.
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