Graduating college — with a big student loan bill

April 12, 2011
By

college graduatesWell, this was a depressing headline to read: “Congrats on your degree! And sorry that you’ll still be paying for it when your kids graduate.” The story is about what you would imagine: Student loan debt is piling up, we’ll never pay it off, we’re all poor, yadda yadda. You know it’s that time of year — when college graduations are coming up — when you start hearing about how poor those soon-to-be grads will be for the next 10 years.

Alas, I am one of those people who is still paying off her debt a decade later, but the interest rate is so low, there’s no real point in paying it off early — as the story points out — when I have higher interest rates on mortgage and car loans. Plus, hopefully anyway, that’s an investment that will pay off over my lifetime, since I hope to use my degree for a long time.

It seems like college students are in a catch-22 these days. If they’re not fortunate enough to be rich, or at least rich enough to afford thousands of dollars of college tuition, they have to take out loans and be poor for the next decade. But if you don’t go to college, you’ll more likely than not have to settle for a job that doesn’t pay as well, and be poor anyway.

What do you think?

This post is brought to you by the fine folks at Landmark Management, offering studio, 1, 2, & 3 bedroom apartments & townhomes in Indianapolis. You can also find us on Facebook and Twitter.

Image courtesy of SwedishCarina via Flickr

This post is brought to you by the fine folks at Landmark Management, offering studio, 1, 2, & 3 bedroom apartments & townhomes in Indianapolis. You can also find us on Facebook and Twitter.

Share
  • http://www.studentloaninfo.org/blog/ student loan

    Taking out a student loan & going to college is an investment that pays big dividends.

  • http://www.tophatmoney.co.uk payday loan payday loan

     “This is going to be too big and too congested, and makes getting your student loan
    about as attractive as lining up to get your driver’s license in some
    states.” “It changes the kind of country we live in more than it …

  • http://cash4fun.co.cc/ Payday Loan

    Relay nice way to get payday loan.

  • http://www.loans.net Loans

    Payday Loan: Compare different lenders and get fast payday loan approval.

  • http://www.fastpaydayloans-cashadvance.com/ Cash Advance Payday Loan

    “This is going to be too large and too congested, and makes getting
    the student loan
    about as attractive as arranging to get your license in certain
    states.” “It changes the type of country we are now living in more than it.