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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]Big difference between private HS (35k on the high end for the DMV area) & Ivy (60k a year).[/quote]

Well yeah, but you would imagine that there would be at least some savings to tap into.  And is [i]some[/i] student loan debt the end of the world?  I understand that going 200K into debt is really horrible for a young person to be saddled with, but I'm not sure that ~20K or less at a low interest rate is so untenable for a young person (obviously 25K x 4 is 100K, but presuming there might be savings in the picture).[/quote]

Plus, if you've been paying $35k a year for 12 years what is it about year 13 that suddenly makes it unaffordable?  [/quote]

Just guessing here, but maybe that additional $25k?   :roll: [/quote]

Sorry, let me rephrase that.  If you've been paying $35k for 16 years, what is it about year 17 that makes it about unaffordable?  An 80k loan could be paid off fairly quickly.

Chances are this is all hypothetical anyway.[/quote]

Actually an $80k loan is very crippling. Then there may be more debt for grad school.

With $80K, you're paying at about $920 a month in student loans for 10 years, until you're 32 (http://studentaid.ed.gov/repay-loans/understand/plans/standard/comparison-calculator).  Not everyone can rely on the happy scenario above where dad paid off his son's loans (although my mom did pay off my loans). Unless you go into finance or something really lucrative, this $920/month payment is going to handicap you in (1) your job choice, because low-income jobs like teaching won't be options unless you do Teach America and get debt forgiveness, (2) entering the housing market and (3) saving for retirement. If you marry and your spouse has a similar amount of debt, this is probably going to slow you down in (4) starting a family. There's  actually a lot of news about crushing student loan debt burdens recently, you should read up on it.[/quote]

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