A recent CNBC article showcases how student loan debt is now at new all time high levels.
“Debt has become an inevitable part of going to college for millions of Americans. The most recent Survey of Household Economics and Decision-making (SHED) from the Federal Reserve Board indicates that 42 percent of Americans who attended college, and 30 percent of all adults, have incurred debt in order to finance a degree.”CNBC – Abigail Hess
Is attending school and taking on student loan debt a thing that is inevitable now? We do not think so. There are creative ways to pay for your education not limited to grants and scholarships.
“One reason for the increase in student debt is simply because more Americans are going to college than ever before. This trend is unlikely to change. The Georgetown Center on Education and theCNBC – Abigail Hess
Workforce predictsthat by 2020, 65 percent of all jobs in the American economy will require education beyond high school.”
Yes, having a college degree seems to be the new normal and it opens plenty of doors for many graduates. However, at what cost does one get that degree? Not just the initial financial outlay but also consider the true opportunity cost of the additional interest and time allocation.
Consider still getting that degree while having the forethought to structure your journey creatively. For help with this or to join in the discussion contact us to attend our next planning session!
Graduate College Debt Free is team of students and parents simply committed to implementing novel techniques to set themselves up on a path to graduate college debt free.