Student Debt Still Plaguing Older Americans

Depending on whom you talk to, it’s generally agreed upon that going to college is great for your future. It will not only give you the skills and degrees you need to make a sizeable income in the future, but also the social skills you need to succeed in the real world. Unfortunately, going to college is very expensive, as you’re sure to know. Depending what university you go to, you may be walking away with upwards of $100,000 worth of debt once it’s done – provided you’re following the norm and getting student loans.

This gets even worse once you consider the fact that many people are opting for graduate school. That’s another $100,000 or more added on to your undergraduate debt depending on what degree you choose to pursue.

In olden days, it was generally assumed that the increased income you would make from your college degree would help to pay off these loans in a timely fashion. Unfortunately, this doesn’t seem to be the case. Reports have begun flocking in of thousands upon thousands of Americans in their 50s who are still plagued with over $100,000 worth of student debt.

So, what is one to do to avoid this? One way clever university students are getting around sizeable student debt is to take into consideration the school that they want to go to. One of the biggest problems is that people are going to extremely expensive university and majoring in something that there is not a high demand for. Additionally, if you go to a less expensive undergraduate school, it leaves open the opportunity that you can go to a better graduate school. Another point to make note of is your major. While it’s in one’s best interests to follow their dreams, you have to reach a middle point of something you love to do and something that will make you money.