Thanks to Wall Street Journal for informing telling us what everyone on sharenotes.com already knows… College students are borrowing more and more these days. The study is pretty numbers driven, but I’ll bottom line it for you; when we graduate, we’re going to owe a lot. It’s just about that simple.
About 10 years ago students average debt was about 13K, its now about 23K and the economy is a whole lot worse than it was back then. So we have a lot less jobs to look forward to and a more debt to burden us. One of the biggest findings of the study was that because of all this, students are having to re-think how and what they can afford in their lives post graduation. Buying a home, that new car or just plain being able to afford Top Ramen is all very much in question. Especially when you consider that it’s very likely it could take 10 years or more to pay off the debts we rack up while in school.
I know, I know, this isn’t anything that we don’t already know. We’re in the thick of it. I know I’m not the only one on sharenotes.com that’s got literally thousands racked up in debt. At the very least we are able to deffer payments while in school and with any luck, the economy will right itself in time for many of us to get that killer job once we’re done. Let’s hope so.
Have thoughts on the topic? Please leave your comments below and join the discussion with your fellow students!
