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[quote=Anonymous][quote=Anonymous]Not discussed thus far in this thread is the impact of the soaring cost of a college education and the need for many to get a high paying job in order to pay back student loan debt. This leads many to more practical, readily employable courses of study.[/quote]

Overall, slightly more than half of undergraduates take on student loans, and the average loan burden of those is under 30k.  The really big numbers you hear are more from graduate school. Undergraduates are limited to the loans they can take out.  (Of course, parents can take out loans too--but most advise against choosing a school that requires you to do that and financial aid formulas work out so that's not necessary unless parents have a high income but didn't save).

For undergraduates, the new IDR student loan repayment plans help with those who don't have high incomes--the terms are far better than they used to be.  If you are not a high earner, your payment can be calculated at $0 until your income grows and your interest won't accrue further.  Contributions to your retirement plan lower your AGI which is what your income repayment is based on so your future savings aren't disrupted either.[/quote]

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