Did you see the story the other day that the debt owed by college graduates this year averaged $19,000 before they began earning a single penny on a job?
In fact, according to USA Today, a growing number of graduates particularly those who go on to get master’s and higher degrees are facing debts of more than $100,000, which could take them 30 years to repay (about the time when they’re supposed to start helping their own kids pay for college).
But that’s what we get as universities are forced to raise tuition and other fees and the state and federal governments continue to reduce the amount of student aid that can help reduce the load.