Reply to Would you have a serious relationship with someone with 200k in student loan debt?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]From med school or a top ten law school or business school, yes, assuming we were about thirty or younger.

Otherwise, no. What was she thinking????

It KILLS me when kids do this.[/quote]

Well yeah why are KIDS being approved for this much debt to begin with? They aren’t allowed to drink, rent a car, etc. but as a society we have somehow decided they are mature enough to understand the consequences of taking hundreds of thousands of dollars in loans? Most haven’t even had a financial literacy course.[/quote]

They aren't.  There are strict limits on the amount of loans students can take on at the undergraduate level.  These have to be parental loans--if OP isn't a troll (I think it's the latter because of the "full-ride at UVA" claim--there are only a very few full rides at UVA and it's highly specific).[/quote]

Yeah- my dad took out a bunch of loans for my sister and I even though there was no way my parents would ever have been able to pay them back.  We didn't realize the extent of it until we graduated.  I sent my parents money every month for years, on top of my own federal loans, whereas my sister eventually just had my dad sign the loans over to her.

I was a stupid 18yo for sure but plan to provide more guidance and limits for our kids.  Thankfully my now DH was not turned off by my student loan debt although I didn't have nearly that much.  200k on a 50k salary sounds pretty darn daunting.[/quote]

If the OP is NOT a troll, the teacher is living at home, being frugal, so she should be able to pay $25K off per year.

But people need to stop taking these ridiculous loans (or stop complaining that they are poor and will be poor for a long time because of it).  There are plenty of ways to get a great college degree without more than $20-30K debt total, and it can be done for less. It's all about responsibility and choices.  Especially as a teacher, there are plenty of state schools that have education degrees that cost only $20-25k/year.  A kid can take $5K in fed loans, earn $10K and they are left with 5-10K which hopefully parents can help with.  Or take first 1-2 years at a CC and transfer for last 2-3 years.  It can be done. Someone just needs to explain what these massive loan amounts really translate to when you are 22.  [/quote]

The problem is that no kid is taking on this loan burden, the adults in their life are (either directly or via co-signing).  Obviously they were not well informed.  The federal loan limit for all of your undergraduate years is 31,000 total.  That's a very reasonable loan burden for any college graduate to pay off.[/quote]

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