1 answer
2
Asked 82 views

How to Assess College Debt

What are some ways for one to determine an acceptable amount of college debt and to effectively analyze a current financial situation going into college?

college spring26 career-majors
Answer This
2

1 answer

0
Updated
Share a link to this answer
Share a link to this answer

Shawndra’s Answer

Hi - I think the best way to look at it is this: an acceptable amount of college debt is not just “whatever the school offers you.” It is the amount you can realistically repay after graduation without making the rest of your life feel impossible. What are your expenses, what type of work do you plan to do during college, where can you reduce debt with scholarships, living expenses, etc? A smart first step is to stop looking at the sticker price and figure out your net cost instead, meaning tuition and living costs minus grants, scholarships, savings, and any family contribution. Then look at what entry level and 1-2yr employees make at your career. Hope this helps!
Thank you comment icon This is very helpful. Thank you, Shawndra! Lillian
0