From the course: Evaluating College as an Investment

Why graduate debt free

From the course: Evaluating College as an Investment

Start my 1-month free trial Buy for my team

Why graduate debt free

“

- So let's start with why it's so important to decide to graduate debt-free. First, we need to realize that graduating college is still a necessity for a lot of jobs in this country. It's really become a check mark that recruiters are looking for on your job application. But the problem is college keeps getting more and more and more expensive. In fact, in the last 20 years, college textbooks and college tuition has risen 200%. That's an insane amount of inflation for something that has become a check mark for a lot of jobs. The second reason you should want to graduate debt-free is that student loans are designed to enslave you. No matter what happens in your life, your student loans will never ever, ever go away. Even if you declare bankruptcy, you will still have to pay your student loans. Once you sign on that dotted line, there's no going back. You're going to be stuck with them until you can pay them off. And for a lot of people, that's going to be 10 or 20 years of payments until they're free. The average student debt is $30,100, which honestly is what a lot of new graduates are making right now. So they're getting out of college, they're getting $30,000 jobs, and they have $30,000 in debt. Somewhere, somehow the math doesn't add up. And it's not just a debt in finances, is a debt you pay in relationships. 77% of people admit their relationship has been negatively affected by their loans. More than a third, that's 33% of Americans, say that debt is keeping them from pursuing their dreams. 50% of people say they have limited career choices. Look they went to college to get a job, and yet 50% of them say those student loans are keeping them back from that job. In fact, 37% aren't even going after their dream job because they're having to pay for student loans. And 33%, again, a third of people are graduating, and they're taking any job they can get. They went to college to get a better job and a better career, and yet they're taking any job they can get because they have student loan debt.

Contents