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][quote=Anonymous][quote=Anonymous][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?

[/quote]

Not everybody didn't save for college.  [/quote]
Not everyone is rich. [b]Most kids have crushing debt[/b]. 
Hey, can you please pop your little bubble?[/quote]

NP: About 70% of kids take on student loans.  Their average student loan debt is under 30k.  Manageable student loan debt is considered 1 year of starting salary or less.  Most college graduates have a starting salary > than 30k.  So I think it's mistaken to say that most kids have crushing debt. [/quote]
Link to your theory?[/quote]

The numbers I cited are just the numbers on percents and undergraduate student loan debts. The advice of acquiring loans of 1 year of starting salary or less is was the rule of thumb our fee-only financial planner gave us as we were considering colleges.  Other advice I've seen (e.g. here: https://studentloanhero.com/featured/real-life-advice-financial-planners-student-debt/) is it's ideal to keep your annual student loan repayment 10% of your gross income at a 10 year term.  So if the usual starting salary is around 40k, you'd want annual repayment 4k or less, so under 333/mo.  At current interest rates, the average student loan amount falls below that.  
I'm not saying it's not a pain to have student debt (I just paid mine off!), but 1/3 of college grads don't have any, and the remainder have [b]debt that is less than 10% of the average college grad salary [/b]so it seems hyperbolic to say MOST students have CRUSHING debt.

[/quote]
*Meant to say debt repayments that are less than 10% of average college grad salary[/quote]

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