| Very few colleges will leave with student loan debt an order of magnitude greater than $20k. 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. |
You must realize these statements are fundamentally at odds. If the average is $30k, then very clearly most colleges will leave you with $20k+ in debt.
The University of Mississippi is an affordable public university that happens to be where I earned my degrees.
They estimate $23,606 for state residents. Per year.
http://finaid.olemiss.edu/cost-of-attendance-2016-2017/