[merpnderp]

I think a higher number of people taking out five figure 8% loans that aren't used to purchase an education making it relatively painless to pay back, is solid evidence of less financial literacy. There are still ways to get a college degree without taking out 5 figure loans. You just have to go to a cheaper school and work while in college. It's what I did.

[slashcom]

I mean, that’s the thing though. Undergrad in state tuition plus R&B for NCSU and UTexas (programs I got in state tuition for) is at 9k and 10k per year with 5% interest for undergraduate, and more like 6-8% for MS students.

You can be employed in a high paying sector like tech after going to an in-state engineering school, and still l end up with $2k tacked on in your first year of employment. So then what is more rational: pay off the loan as fast as possible, or build up an emergency fund with a generous 2% ROI.