Millennials Regret their Student Loan Debt. They Overestimated Starting Salaries.

[mom2collegekids]

@twoinanddone

They do have to take a pre-loan online ‘course’ before the can get the loan. They click through that about as fast as the drug/alcohol course, and they find it just as interesting. My kids still took the loans, and they still drank the beer.

Honestly, I was surprised my daughter even noticed the ‘amount due’ was different today and called me about it. She seemed to understand my explanation and she is NOT math savvy. I told her just to pay her loan ‘about every 30 days’ and not to pay it ‘whenever.’

If her loan is a federal loan then she should be able to set up auto pay and not have to remember about it.

The average salary might be $35k (damn those history majors bringing down the average!) and that doesn’t even count those NOT working, those in grad school, or those taking the grand tour of Europe after graduating. My history major (^^) doesn’t make anywhere CLOSE to $35k.

Lol…I know a few Communications, Psych, Socio, Anthropology and Child Development who aren’t earning $35k yet either. I know it’s not PC to mention that the ROI of some majors can be very low, but it’s true. Sure, there are jobs that just want the person to have a degree, any degree, and that’s super. And there are jobs that don’t require a 4 year degree at all, but if you have one (in any major), you’re more likely to get promoted.

A young friend of ours has a Criminal Justice degree and went to work at a bank part-time while in college… Quickly moved from a teller position (part time while in college) to a loan officer (after graduation) to a bank manager. In his late 20s and is earning $65k per year with bonuses.