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Reply to "$80k In Debt Worth It for Ivy Undergrad?"
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[quote=Anonymous][quote=Anonymous]Make sure you understand the longterm financial implications of $80 of debt at graduation (or however much debt you will have). I was a high debt student borrower. After making the minimum payments for 12 years, I had paid off $2,000 of principal. If you are borrowing privately, you won't have the protections provided by federal student loan programs. You will not be able to discharge your loans in bankruptcy. So you are really locking yourself into one path.[/quote] It depends on what you do after college. I was dirt poor but went into finance after graduation and was able to pay off my loans fully in 6 years. I am generally pretty frugal, so I directed a lot of my income towards that. [/quote]
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