Objects in Mirror

Contemplating debt for college?

Posted at 3:42 PM on January 4, 2010 by Julia Schrenkler

Today's Question looks for your reply: Would you go deeply into debt for a college education?

The answers so far are personal and often reflect personal finances. For instance, Brian says no, or at least not again:

"I have, and I wouldn't do it again. I could've gotten my current part-time temp job without spending $100,000 on grad school." - Posted by Brian

While Shane views it as a way to add rungs to the ladder:

"Already have. Around $45,000 just for undergrad. And I plan on going back to school in the fall and I also plan on taking out more student loans. In this day and age, the way to move up the ladder is not only by experience, but experience and education. People just need to keep reminding themselves that, although it is debt, it is considered good debt." - Posted by Shane

A good debt that still needs to be paid. Commenter Donovan explains why he thinks it is a good investment:

"Dollar for dollar a college education is still the best investment you can make in today's economy. That doesn't mean you need to spend four times as much on a private college especially for an undergraduate degree which are becoming more the norm, for even the lowest paying entry level jobs.

Technical colleges also make more and more sense these days when you can make a decent living on a two you program.

I am not an advocate of debt but if it meant going to college vs. not going, then you should go even if that means borrowing to get it done." - Posted by Donovan

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January 2010
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