Every payment toward their student loans is $900 Dr. Nida Degesys and her husband aren't putting in their retirement savings account.
They believe they'll eventually climb from debt and begin using their earnings to build assets rather than fill holes. But, like the roughly 37 million others in the U.S. saddled with $1 trillion in student debt, they may never catch up with wealthy peers who began life after college free from the burden.
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6 comments:
For these two examples - the return does not seem to be worth the investment!
If the education you get doesn't earn you a good enough job to pay off the student debt and save for a retirement while living a pretty good lifestyle, then you either picked a overpriced college, an underpaying career field, or you're not putting your education to its fullest potential.
Not everyone should go to college...even some that can afford it.
Not everyone can afford to go to college...even the ones that should go.
Some shouldn't go - others should be helped to go...the government shouldn't force it - either way!
Best to keep them in their place anyway.They put themselves there of their own free will.Let them start at ground level like a whole lot of us did.
Everyone is in debt. Deal with it like the rest of us.
Some jobs required a degree to get in the door. Doctor, Lawyer, etc. Those jobs are worth the degree.
Other jobs sit in the middle. Sometimes it's worth it. Programmer or Network Administrator. Degree gets you past HR and job offers... but I know people in each without a degree making 6 figures (but still lose good opportunities due to lack of degree).
To many jobs don't need a degree and a 100k debt for a 25k job isn't worth it.
I feel for them but kind of wonder if different college choices (state vs private) and lifestyle decisions (borrow max amount and use it to life off campus w/o having to work) might have reduced their debt load to a more manageable amount. From the examples they're able to pay for housing, but not a mortgage, and other bills, but not put money into a retirement account...much like the rest of America.
Worried about retirement accounts while paying off student loans? Is'nt that like burning the candle at both ends? It's almost like "how dare anyone put my retirement account on the back burner"!It's as though they did not realize that they had an obligation to pay the loans back.God help us if Hillary gets elected.She intends to include college loans in the dismissable category in bankruptcy.Katie bar the door when that happens.
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