Quote:
Originally Posted by KillerK
You must be an idiot to take on that kind of debt.
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That is not an insane amount of debt for a 4 year degree at a state school. A friend of mine has a son that started college this year. The school is 3 hours away (Oregon State University) so he will have to stay in a dorm. Total cost will be about $21K per year for tuition, room, books etc. I think that dollar amount also includes some meals.
So after 4 years he will have spent $84,000. That is if he doesn't borrow any extra money to live on, which he isn't going to do because his mom is going to pays his cell phone bill and give him some spending money each month.
He plans to work part time if he can and get summer jobs, but that is only going to take him so far in paying down the debt and he was told in advance that most of his senior year and the summer after his junior year he would be interning so the chances for him to work will be greatly reduced.