Another cautionary debt story

JustAMomOf4
Fri, 24 Oct 2008 14:58:25 +0000

futurernystudent: you are assuming that everyone wants to go to Law school or be an investment banker. For someone who wants to major in social work or education and is from Alabama - there really isn’t any benefit to borrowing and spending oodles of money to get the UVa degree.
Anyway - assuming that you are correct - it is quite a gamble to think one could borrow that much for Harvard even, and come out ahead.

Bay - I doubt all the $150,000 is borrowed. Much of that could be late fees and collection costs. Still even if he borrowed $100,000 that is waaayyyyyyy too much.
About need - notre dame AL is correct. Just because you don’t “need” the money doesn’t mean you have the money.