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by jimbokun
3302 days ago
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"I took out 20,000 in loans to go for the last two years after transfering from community college (with no loan for that)." This is the key. If your debt was an order of magnitude larger, would the benefit still be worth it? And if you got a degree that led to a $45k / year job instead of $90k? It's no longer easy to say "going to college" is always a worthwhile investment. It is highly contingent on future earning potential with the degree and how much it costs. |
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That's about the sticker price for 4 years at Harvard. But 70% of their students receive financial aid.
Average student loan debt is around $30k. Very few people have $200k student loan debts.
>And if you got a degree that led to a $45k
Considering that the vast majority of student loans are public loans, and public loans all qualify for income based repayment, I'd say yes.
>It's no longer easy to say "going to college" is always a worthwhile investment. It is highly contingent on future earning potential with the degree and how much it costs.
Again since public student loans all qualify for income based repayment, there is almost no scenario where it isn't worth it to go to a state school. Income based repayment plans are very generous:
10% of your discretionary income (income after 150% of the Federal poverty level), and cancellation after 20 years of payments.