Get ready for punishment of those who went to a college they could afford. My kids live debt free and they will pay the price for all those whining today.
Punish the prudent and wise.
“Punish the prudent and wise.”
This is nothing exactly new. A friend of mine demonstrated to me 25 years ago that his family would have been better off buying a bigger house, a boat, two new cars, and to go on European vacations instead of saving for his daughter’s education at an Ivy league school. His resources prevented her from obtaining any scholarships in spite of her inarguable academic qualifications. This happened to me also but on a lesser scale.
I notice the average was at $23K.
My Daughter just graduated with a four year degree yesterday.
It will take a while to get everything settled but near as we can figure her total collage loan will be around $20K. Total cost would be around $50,000 but she did well, got a few small scholarships and we sunk all the spare cash we could into each semester.
Less than most people’s car loan and her plans are to work like a dog and get it payed off as fast as she can.