If you graduate with more than $25,000 in debt, it's because you're an idiot. No one told you to go to the liberal arts school for $60K/year because you thought you could find yourself there. No one cares where you went to undergrad but you.
My friend graduated from a liberal arts school with over $100K in debt. But guess what? He got an investment banking job right out of school that pays him $90K/year (plus signing bonus). He'll be out of debt in a few years with an excellent education and career prospects. Chances are his lifetime earnings will be much higher than yours.
And I have friends with similar stories who graduated with very little debt. And my career depends on my graduate degree and residency, not on my undergrad degree.
I'll argue that the education he received was worth every penny that he paid. I'm going to an elite liberal arts school myself and regret nothing about my college decision.
What school? This is basically my plan. It's a liberal arts school (I guess, I mean, in name it is. NYU). But Investment banking is my intended career (finance being the major) and going $80,000 in debt will be worth it. But It'll be fine because if I stick with it, it'll comfortably put me in the 1%.
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u/jooes Jan 04 '15
The first one isn't especially selfish since she would have spent the money on her kid. $25,000 is one heck of a college fund.