Reply to Is it really worth the money for your child to choose a college away from home?

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Reply to "Is it really worth the money for your child to choose a college away from home?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There's a value to moving away from home. [/quote]

What exactly is the value of CRUSHING debt, 
and NOT being able to get MARRIED or buy a HOUSE?

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The crushing debt loads you hear about from undergrad are usually when someone goes to a high priced institution and borrows extra.
The maximum federal subsidized student loans for undergraduate are 23,000 for the total 4 year period.  At current rates this results in about a $265/month payment for 10 years.  The problem comes when people decide to add in private loans and take them to pay for additional living expenses and then live fairly large or they opt to go to an expensive private university, don't qualify for financial aid but also don't have savings to support it.  Then the big cost is from tuition not R&B.  The average cost of room and board is $11,000 year.  It's cheaper to stay home, but you'd have to add in food costs at home, commuting/parking costs for school and any eating out done at school because of the commuting factor.  
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