In spite of soaring student debt, often heralded as a crisis by the national media, the majority of students still say it was worth going into debt to get their degree.
This is in spite of the fact that US graduates are carrying a staggering $1.5 trillion of debt, and over a quarter of graduates surveyed in 2016 (who still had student loans to pay off) were looking at a very significant $43,000 or more in student loan related debt.
There are still professions that don’t require a degree and, controversially, some claim that a degree can even hinder you, precisely because of the debt incurred.
College is about spreading your wings, gaining your independence, trying out new activities and experiences that may have nothing to do with your formal education, but everything to do with your personal growth.
– Is a degree important in my chosen career?– How much debt will I have take on?– How much extra will I earn with this degree?– Will that ‘extra’ more than cover loan repayments?– Will I definitely complete this degree?– Is college going to benefit me in other ways?
Know how much debt you’re taking on, what your interest rates will be, how long you’ll take to pay off loans, and perhaps most importantly, what your projected earnings will be with your chosen degree.