We all value education, don’t we? But as a current graduate student, I’m alarmed by the amount of debt my friends and peers are taking on… $20k, $50k, $100k, $120k. What will happen when our generation wants to buy a home, have a child or put money towards our retirement but we’re still paying off our debts acquired to get a good job in the first place?
I’m not one for conspiracy theories. I HATE generalizations, scare tactics or dramatic claims, but this document makes some thought provoking points about the growing debt of our country, of our college attendees and the economy. I hate sounding the alarms, but this exact question has been on my heart and mind for over a year- how will today’s college grads handle their debt, or will the bubble burst?
I personally am concerned that if we had an economic crash in 2008 over the housing market, but many college grads have more debt at age 24 than 44 years old have on their mortgage.
Thoughts? Do you think the debt is worth it? Is the answer to the devaluation of the bachelor’s degree simply getting more education (thus more debt)? Do you know anyone that is in a huge amount of student loan debt? How are they handling their debt?
I really want to talk about this and would appreciate your thoughts and experiences.