How Not to Pay for College
I just came across this riveting New York Times article about the student loan process. Nowdays it is not uncommon for students and parents to make college choices based on emotions.
The brand value of going to an ivy league school can be pretty compelling. However as a result, a lot of students and their parents find themselves in a lot of debt at the end of four years of college.
The NYTimes says that 10% of graduates from 2007-08 had borrowed 40K or more. While this may not be a lot of money for students seeking jobs in in some professions, on average that is a lot of loan to incur.
I would highly encourage all of you to give this article a read. The moral of the story is to continue to follow your dreams and passions. Apply to the colleges and universities of your choice, but don’t go in blindly and try to be smart. Get financial aid wherever possible and if you are taking loans, understand what it means to pay it off assuming a certain salary once you’ve graduated.
Photo credit: Thomas Hawk
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