I am finishing up a four year degree at a state school. I owe $80,000 in student loans. Can this be right?

Question

I am finishing up a four year degree at a state school. I owe $80,000 in student loans. Can this be right?

Answer 1

I take it you didn't major in math.

Answer 2

Yes, that is about right.  Actually that's on the low side of what you could owe.  I would consider myself lucky if I were you.

Answer 3

It depends on the state school.  Some are cheaper and some more expensive.

With 80Gs in loans, you won't be buying a house in the near future. Say hello to Mom's basement.

The best way to avoid these debts is to do two years at a community college and then two at a cheap university. It's better to spend the bigger cash on the grad degree.

My friend's kid did Yale and then came out and said he was going to work for a non-profit for $20,000 per year.  He needed to find himself and he need to save the world. I'd have kicked him in the b*lls......

You'd better major in something you can make money doing or you're scr*wed.  Sociology and basket weaving don't cut it anymore, kiddies.

Answer 4

Heck yea. My sister attended Carlow College of Pittsburgh, $350 to $500 per credit, not to mention lab fees, books, etc. She ended up owing about $100k at the end of 4 years.

Go over your loan contract and see what kind of options you have for deferments and loan forgiveness. Back in the day, if you went to work in  your field in an impoverished area, you could have a % of your loan forgiven. Try to research all your options!!