Click me
Transcribed

Student Loans by the Numbers

Student Loans by the NUMBERS Congratulations. You're cool. You stayed in school. Now it's time to do it again. College; everyone's doing it. Sure it's expensive, but that's what student loans are for right? You will pay it back once you have that sweet job, right? Think again, student loans need to be taken seriously, and you need to know the facts before you go down that road. Let's begin... Obama has proposed the most dramatic overhaul of the student loan system in decades, allocating up to $6 billion in federal loans. This is good because more students can get the funding that they need because... Which causes schools to raise prices. And then.. College tuition costs are rising at twice the rate of inflation. Making college more affordable and psychologically cheaper. hmm... tuition bubblk? So more students need to borrow money. So the government makes more money available for loans, It's easy credit that artificially inflates prices. Remember the housing market? With the dismal job prospects out there, your financed education may not be as valuable as your folks told you it would be. Let's look at the figures. the average private tuition is $25,143 the average public tuition is $6,585 out of state students will pay an extra $10,867 (it was $1,437 cheaper last year) ($233 more than last year) this years' freshman at private colleges can expect to pay $109,827 by the time they graduate oh, don't forget room and board, that will be another $38,627 (not including beer) that's an investment of $148,454 which is the median home price in orlando, florida public tuition will run $62,421 (58% cheaper) Nost expensive in the U.s. freshly minted degree from Sarah Lawrence College will cost and that's jost the Bachelors degree $232,234 i you will need a master's -- or doctorate degree to make the real bucks right? That will be another $41,560 per year $14,623 for the public version or getting a law degree will increase your debt load to $92,937 go for the white coat and stethoscope and you're at $127,272 oh and don't forget those beer costs no big deal right, with your great new job you can pay it back real quick 38% 10 years well, of graduates will take to pay back their student loans 44% will delay buying a house 28% will delay having children because of their student loans Being saddled with a mountain of debt as you head off into the world will seriously impact your life. milI But even with all that debt, giving it the ol' college try is still the best investment in the long run. Over your lifetime, you will have made an average of $800,000 more than your high school diploma holding friends back home. So do the math before you sign on that dotted line. Look for scholarships and grants, or anything that can reduce borrowing. Otherwise you could be drinking PBR well past your Ph.D. CollegeScholarships.org mint.com WallStats.com OLARS

Student Loans by the Numbers

shared by aleks on May 23
1,232 views
3 shares
0 comments
They say after the tech bubble and the real estate bubble, we'll see the bursting of the student loan bubble. Indeed, while education is valuable, it's also true that too many college students borrow ...

Publisher


Designer

Wall Stats

Category

Education
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size