Thursday, August 31, 2006

$100,000 college debt

I was reading this article about people borrowing money to attend colleges.

Would you take out $100,000 in loans to go to a college? I would borrow some money but not that much. I would buy a house with that kind of money. But it is the only way for some people to get a good education.

"From 1993 to 2004, the median federal loan for new graduates jumped 63 percent to more than $16,000. One in 10 students at private college owe more than $40,000. And that's not even counting how much Mom and Dad borrow to help pay the bills."

The tuition cost is getting higher every year and I think more people are getting
burned. You get a certificate after 4 year but doesn't mean you will find a high
paying jobs and you will still need to pay the loan back.

You can read more from this article


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