Is the Debt Worth It?

HImom
Tue, 17 Apr 2012 21:45:49 +0000

Remember, “enjoying yourself and your ed” is what you make of it. Have not heard of anyone who ENJOYS crushing debt when they graduate. Worse yet, some never do get the degree but still have tons of debt that DOES NOT get discharged, even in bankruptcy! Please, please show your good judgment and be sure you don’t acquire crushing debt with this uncertain economy.

<komobo>, IMHO, you are doing your child a HUGE disservice by allowing her to acquire debt of $80K. If & when she ends school because she graduates or just leaves, IF she doesn’t have a job with LOTS more income that you are envisioning, how will the debt be repaid? When S graduated in 2010 from engineering school at USC and several of his classmates graduated with masters as well, there were A LOT of them with NO JOB. Please, please rethink and run the numbers to see what it would take to pay off the debt, over what period of time, with other expenses such as rent, car, insurance, gas, food and other essentials.</komobo>

Check out a repayment calculator like this one to see how much debt you’re talking about. [Repayment Calculator](Sallie Mae | Education Loans, College Planning & Online Banking)

Remember, tuition and expenses often go UP every year and it is common for students to take longer than 4 years to graduate.