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I don't think suicide is a typical response to student loan overload, but there is a cautionary tale here. Lenders WILL lend to students who don't have a clear plan for getting out of debt after they graduate, who major in fields with limited job prospects, etc. One can't fault the lending process entirely - they can't pick which students will succeed in their chosen profession, which will move on to law school or business school, and which will leverage their undergrad degree into a series of jobs that barely pay the rent.
I do think that colleges need to put the brakes on their tuition and fees, which have outpaced inflation every year for decades. Most colleges, though, have a surplus of applicants and most of them come up with the money - we'll probably have to wait for the baby bust to see some price competition arise.
Any student contemplating heavy debt load needs to run the numbers and get some experienced financial input, whether it's from a parent or someone else. A big loan that will come due many years in the future is something that's hard for anyone to evaluate, but particularly difficult for younger folks who haven't paid off a house or even a car.
I'd be cautious in planning any debt amounts greater than the Stafford limits, particularly when starting as a freshman. Leave some room for unexpected circumstances, like parental job changes, needing an extra semester, etc.
In reading CC's forums over the years, I've seen some students get hung up on the belief that there is one perfect school they need to attend, even if it means racking up big debt. That's not true, and spending money that you don't have to chase that dream isn't worth it.
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