That’s right, CC is a great way to start. Unfortunately, that’s not what most of these kids were told when they started. They were told to live their dream and to not worry about financing. Also, many parents were too financially ignorant to guide them. Once they realize what the debt is going to do to them it is far too late.
“Unfortunately, that’s not what most of these kids were told when they started. They were told to live their dream and to not worry about financing. Also, many parents were too financially ignorant to guide them.”
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Very accurate assessment in my opinion. There also seems to be an unrealistic perception that if kids go to an esteemed (i.e., expensive) university they will forever be rewarded with high paying jobs because they “went to a good school”. That may be true to an extent if they majored in an academic area that’s in strong demand, but others who major in “softer” fields with less demand are going to be disappointed in terms of what they can earn and their professional progression. They are therefore probably not going to reach a financial break even point for a long time.
And then there’s always the matter for some of how to pay for grad school when you’re already burdened with a significant level of debt.