A Real-Life Tragedy!

The average consumer has NO CONCEPT of the impact of college debt on a young person’s life and future. My wife and I experienced a tragic example of this last weekend when dining at one of our favorite out-door restaurants.

Jennie, our waitress, mentioned that she expects to graduate next May with a Master's degree in Special Education from a local college. I inquired how the local job market appeared, how long this degree pursuit had required, AND whether she had any college loans.

Jennie replied that the job market for teachers was “soft” (she expected to substitute teach for several years), it had taken her SEVEN YEARS to attain her Master’s degree, AND she will have over $85,000 in college loans upon graduation!!

Statistics indicate that 40% of college attendees NEVER consider the cost of school when making a decision where to attend...AND most families feel that “the most valuable advice with respect to paying for college comes from the college’s financial aid office."

REALLY??!!

IF Jennie obtains employment, her starting salary will be less than $40,000 per year, OR a “take-home” salary of $3,000 per month----BUT----it will cost her close to $1,000 per month to SERVICE HER COLLEGE LOANS for thirty years!!