<p>It matters how much the loans are.</p>
<p>I agree that $80,000-$100,000 in loans is unrealistic and would put handcuffs on a student’s future. I shudder to see students posting on CC that they plan to do that to attend their dream schools.</p>
<p>However, most students take out about $20,000 in undergrad loans, and that’s a reasonable amount to have to pay back. After all, obtaining a college degree greatly raises one’s earning potential.</p>
<p>For places like Harvard, the average total loans for 4 years are less than $10,000. That’s extremely easy to pay back.</p>
<p>When I graduated from Harvard, I had several thousand dollars in loans to pay back, which I did despite spending a year in grad school right after college, entering a profession with fairly low pay – journalism, and having some periods of unemployment. I never missed a loan payment, and continue to be grateful for how the loan helped me get an education that would serve me well for the rest of my life. I could have gone locally to a so-called Little Ivy for free, but chose instead to go to my dream school. </p>
<p>I think it’s a mistake to act as if taking out any loans is a mistake. For many people, that’s the only way that they’ll get a college education. If one doesn’t want loans and chooses to go to a cheaper college, fine. However, for many people – probably most college students – loans are something very welcome because they make their college educations possible. I also don’t see anything wrong with expecting students to help foot the bill for their own education by taking out loans and working.</p>