[monroepe]

A Bachelor's degree doesn't really do that much for you these days. It's become like a high school diploma was 30 years ago (which almost no one paid for). I keep trying to advocate that people not go so far in debt for a college degree. For med school or law school (although I would argue that this is not a great investment with the current glut of law school grads) it makes sense to go into debt of that size. But I don't think you can or should justify student loans of over $10k for undergrad. Maybe you could stretch that to $20k, but I wouldn't (and didn't). If you can't afford a college don't go there.

I left college with ~$3k in student loan debt. I went to a liberal arts college that costs ~$60k a year with room and board. My family definitely could not have afforded to send me there, but I got a lot of scholarships and financial aid. I ended up with a job that had nothing to do with my education there. I value the experience I had there, but it was not worth $60k a year by any means.

There is a lot of benefit to college education, but not everyone needs to go to their dream school. Not everyone drives their dream car or lives in their dream home.

[odonnellryan]

Few friends went to a state school in NJ and lived at home - literally could not get cheaper than this situation for us - and they ended up with between 20 and 40 thousand of student loans.

Yes, they did work part time. But 100-200 a week from a part time job doesn't go far. That's gas and lunch.

They certainly got some aid other than loans, but I do not know the level of scholarships they received. Might have been their problem!

[kamaal]

>>and they ended up with between 20 and 40 thousand of student loans.

Doesn't seem much, if you continue the same student life style after getting a job, that kind of debt can be seen through in 1.5-2 years.

After that every thing you earn is yours.

[odonnellryan]

I don't think it is that bad. They got decent jobs.

[vkjv]

I agree with the sentiment but I think somewhat higher loans are reasonable.

The rule of thumb that I use is total student debt shouldn't exceed the normal starting salary for a job in your field.

If you are getting an engineering degree, go ahead and feel free to drop $60k+ on an education, but if you are going to be a teacher start looking for grants.

[monroepe]

I see what you are saying and there are definitely certain fields where it makes sense to take on more debt than the $10k-$20k I suggested. I think another factor to take into account is financial maturity. Some people are better situated to handle larger debt than others. I am fairly frugal at this point in my life, but I am not sure I could handle the pressure and the need to budget with an extra $744 payment towards loans every month like mentioned in the article.

[jsudhams]

Completely agree that degree should not be forced to get a job... US should keep the tradition job for skill than a degree otherwise USA will endup like India

[_pp9c]

If you want to have a research career, you pretty much have to go to a top ten school (or better). Of course, this doesn't apply to everyone...

[wycx]

I am not so sure. Do well as an undergrad, and then go and get a PhD at (1) a place with a respected name, (should have good quality staff and resources by default) or (2) someone at a lesser school, but is well respected in the discipline. I struggle to think of anyone I know that did not get a scholarship to fund their PhD. i.e. if you have to pay for it, perhaps you are doing it wrong...

I don't think where you did undergrad makes a whole lot of difference, if you are talented and motivated to pursue research. Where you go as an undergrad will dictate how much research you are exposed to during your degree however.