Thanks. It is sad how many kids get discouraged from attending college because of having to go into debt...yet many of the kids that I knew that chose to not go to college for this reason all bought new cars right out of high school as there was no shortage of companies willing to finance the deal...for a large fee.
My favor part of the spin the CBS put on this story was how these debts were 'crimping' the lifestyles of this college grads. They didn't have as much money to spend travelling and buying stuff and they were able to buy homes. Huh? College grads buying homes before they even start up their careers? Wow, do these kids have unreal expectations.
very true. my schooling was mostly paid for with scholarships (thank you SATs!), but after my freshman year, I found a deal with Frost Bank where you could borrow up to $2000/semester (now its up to $2500), interest-free, as long as youre enrolled full-time and keep the GPA above a 2.75 (I believe). You have to make $35/month (now $50) payments, which goes against the principle. The loans will be interest-free for two years after I graduate. I really didnt NEED the full amount that I could borrow, but I went ahead and did so and just let the rest sit in the bank and accumulate interest, and automatically drew the monthly payments from the bank. It doesnt amount to a massive sum, but I've been earning interest on someone else's money, and its there if I have an emergency and really need to tap into it.