There was an article in The Oregonian recently which makes a lot of sense to me. It is about really thinking long and hard before taking on enormous college debt. There are now so many young students working years and years to payoff their college debt that this article give facts and figures to hopefully make students think twice before burdening their future with heavy debt. The article states that many college graduates are paying higher and higher portions of their income for over a decade, just to pay down college debt. There was one example given of a person in Florida who has $45,000 owed in student loans. He just got a repayment plan of $400 per month and he's still attending school. A monthly payment of $400 will delay other life purchases such as living independently, buying a home or purchasing a more reliable car.
The writer of the article tells the story of her own college choice: she earned a 4 year scholarship to the university in her home state, but she wanted to go to school out of state. Her grandmother gave her very good advice that she is still grateful for today: No Way. With the cost of college getting higher by the minute, if there is a local school that will provide a quality education, or at least the first two years, go for it. There is just no need in spending so much extra money for a fancy school or for out of state tuition.
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