Debt for College is Dumb

July 9, 2011 — 2 Comments

http://www.youtube.com/watch?v=H14QV6YBqqk

If you’re thinking about financing your college education, think twice. Look at a cheaper alternative like online accredited universities. The cost of an average private university in The US is about $27,000 per year. Back in the early 70’s it was about $3,000 per year. That’s an 800% increase!

The government is making it easier to borrow money to go to school. Do you really want to have a 4 year degree and be over $100,000 in debt before you’re 25 years old? That’s not a smart personal finance plan. It would take you many years to become debt free and you’re just getting started.

Education is a product. Services rendered, money paid. Look at your options before you dive into student loan debt. And by the way, you can’t include student loans in a bankruptcy.

To Your Financial Freedom,
Greg Whitaker

Greg Whitaker

Posts Facebook

Greg is a financial wellness educator, tireless ambassador for financial literacy, and the founder of Debt Shepherd.

2 responses to Debt for College is Dumb

  1. God, I feel like I shloud be takin notes! Great work

    • Thank you for the feedback. Let me know what content you’d like me to cover. Topic suggestions, subjects, etc?

Leave a Reply

*

Text formatting is available via select HTML. <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>