This is why we discourage parents (and students!) from taking on big debt for college....

[ucbalumnus]

@rosered55

Third person was laid off from an engineering job when he was in his 40s, went back to school to get a master’s degree, became a teacher, went back to school for a Ph.D., and now is a tenure-track professor at a public university. In my mind, only the third person’s debt was worth incurring.

However, this person’s debt should be much less than $250,000 or similar eye popping number, right? (The PhD should have been funded, leaving only debt for the master’s degree 20 years ago and undergraduate 40 years ago.)