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Oh, so its not closed, they are just fixing it.
I've had college debt, started out making around 32k after college and I managed to live comfortably. I lived with a roomate for a while that had over 100k in Law school debts and he was fine. I've dealt with lots of former RIT kids at local firms that are able to afford mortages while paying off debts. And contrary to what you think people do stay in this area. I think you even posted articles regarding the issue that there was not that many people leaving the area with higher educations. The problem was getting outsiders to come.
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