The Student Debt total reached $1 Trillion today. What are the costs for future generations and its prosperity?
Since student debt is future income brought forward, Creative Marbles suggests thinking carefully about career and major choices to know if a student would be able to afford the monthly loan payments. Also, students need to consider the “opportunity” costs of diverting future income to a loan payment. Would that mean I delay buying a house? Would I have to move back home? As we started discussing in an earlier post, with average earnings decreasing for college graduates, are the costs of college still worth the value of the degree?