Student loan debt is much worse than you think

[MLSFan]

Originally Posted by Mr. Clutch

So let's review. Both public and private college costs have more than doubled in the last 30 years. Homeownership costs have also more than doubled in the last 30 years, keeping in mind that those particular numbers are in unadjusted base-year dollars. Wages, conversely, have increased by less than 25% in the last ~30 years.

Look at the studies on college costs without room and board, it hasn't gone up that much more than inflation rates. Your stats where college costs went up is nearly all in line with the increase in housing costs/aka room and board.

People need to learn that they can't live somewhere on loans and expect to not pay it off. College or not, living costs are not "education debt". They get a crash course of cost of living if they do it on 5% loans

[TabulaRasa]

Originally Posted by Ruth4Truth

That's fab, TR, but the Catholic colleges are an exception. And thank heaven they're around! They're a real blessing to students who otherwise couldn't afford a college education at all, and the full-pay students have a good experience, too. They do a remarkably good job, the Catholic colleges. They keep up with the times. I'm impressed.

It's a good little school. I likely wouldn't have gone there as a residential undergrad, as it is tiny, mainly commuters, and wouldn't have given the campus community and lifestyle experience I sought. But as a middle - aged adult graduate student living off-campus with a spouse and kids, it has been ideal.

[heart84]

Originally Posted by Suburban_Guy

Didn't we have that same student loan debt fiasco not long ago?

Have we learned absolutely nothing from that?

Jeezus.

https://www.yahoo.com/news/daily-dig...170352588.html

Agree. Tons of students with no job prospects $50K+ in debt. I see it all the time. I also know many that have gainful employment making an okay salary but they are so upside down in student loan debt they will never have it paid back. I have worked in higher education for over a decade. I am still astounded by the number of parents of high school students and early college students that don't understand what taking these levels of debt will mean for the future of their children. It is getting close to a breaking point. Smaller colleges and universities will be impacted the most. I imagine within the next couple of years they will start asking to be bailed out too (higher ed institutions).....