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Old 04-12-2012, 01:40 PM
 
23,851 posts, read 19,842,078 times
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Maryland college students and graduates carry more student loan debt than their peers in other states, according to a new report.

The Top 6: Maryland: $33,704 Massachusetts: $33,609 Illinois: $32,237 New York: $32,005 Georgia: $31,960 New Jersey: $31,869

Maryland residents' student loan debt is topping the charts -- with Virginia falling close behind at seventh place -- as students' debt soars past $1 trillion for the first time nationally, according to the most recent quarterly report from Credit Karma, a consumer credit management company.

Maryland residents with outstanding student loan debt carried an average balance of $33,704 last month, compared with the national average of $29,523. Virginia's students and graduates owed $31,704, by comparison.
Marylanders carry most student debt in nation | Washington Examiner

This is a pretty astounding number considering the number of students carrying student loans.
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Old 04-12-2012, 01:44 PM
 
Location: North America
5,936 posts, read 4,665,678 times
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If the government would just stop subsidizing non-science majors or non-engineering majors then college education wouldn't produce so much debt.

Ron Paul: "If You Subsidize It You Get More Of It"
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Old 04-12-2012, 01:44 PM
 
Location: Old Town Alexandria
14,505 posts, read 23,767,146 times
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So?. Hopefully they find good jobs and pay it back. No controversy here.
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Old 04-12-2012, 01:58 PM
 
23,851 posts, read 19,842,078 times
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Originally Posted by dreamofmonterey View Post
So?. Hopefully they find good jobs and pay it back. No controversy here.
Plenty of controversy. Especially in light of the number of people who are crying for student loan forgiveness.
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Old 04-12-2012, 02:13 PM
 
29,988 posts, read 37,190,235 times
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Quote:
Originally Posted by dreamofmonterey View Post
So?. Hopefully they find good jobs and pay it back. No controversy here.

Student loan debt is very likely the next great financial bubble. Hope won't make it go away.

Student-Loan Debt Could Become Next Financial Bubble, S&P Says - Businessweek

The Next Financial Bubble: Student Loan Debt - Seeking Alpha
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Old 04-12-2012, 02:26 PM
 
23,851 posts, read 19,842,078 times
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I myself had $80K in student loans when I graduated. I paid them all off in 6 years exactly.
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Old 04-12-2012, 02:32 PM
 
17,723 posts, read 19,782,023 times
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My wife and I owed about $400,000 in student loan debt... it is down to $200,000 at about 2% interest rate... because it is the lowest interest rate of my loans, it will be the last loan that I pay off... I laugh at how people say they can't pay 29,000 over 30 years... you telling me you can't afford to pay a little over $1k per YEAR?
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Old 04-12-2012, 04:16 PM
 
2,413 posts, read 2,646,350 times
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Quote:
Originally Posted by evilnewbie View Post
My wife and I owed about $400,000 in student loan debt... it is down to $200,000 at about 2% interest rate... because it is the lowest interest rate of my loans, it will be the last loan that I pay off... I laugh at how people say they can't pay 29,000 over 30 years... you telling me you can't afford to pay a little over $1k per YEAR?
I laugh at people who would spend $400K on a college education.
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Old 04-12-2012, 04:17 PM
 
29,700 posts, read 16,414,979 times
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Slavery is alive and well in America.
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Old 04-12-2012, 04:24 PM
 
5,368 posts, read 5,148,120 times
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I'm surprised it is that low. Are the students who have no debt being factored into the formula? Its funny because this topic came up during a job interview that I had today. The prospective boss has three daughters with a lot of student loan debt. I think it is much better to look at a median for data like this too. The average can be skewed by those who have in excess of $70,000 or those who have very little debt.

Either way, its pretty obvious that the price of education is exploding through the roof and the return on investment is decreasing steadily. I wonder when this bubble will pop and throw the US into another recession.
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