A Lifetime of Student Debt? Not Likely

Summary:

In the article :" A Lifetime of Student Debt? Not Likely" Robin Wilson states in his issue of the Chronicle of Higher Education despite stories of a large number of students who face gargantuan debt, about a third of graduates leave college with no debt at all for their education while  65 percent faces debt, the average they owe is around $20,000.  Problems with student-loan debt are very real, about 8 percent of undergraduates borrow at double the national average.  Most people borrow a reasonable amount of money, they pay it back.  Why do some students borrow more than $40,000 for a bachelor's degree when average borrowing is only half that?  More often, the problem among students who go heavily into debt is that they are determined to attend their dream college, no matter the cost.  In 2006 a CNN report that called a student loans " A Life Sentence" and said " Forget about getting married and buying a home. This generation is thinking about next month's payment".  But data on the average student-loan borrower tell a very different story.  A college graduate can expect to earn nearly $1 million more in lifetime earnings than a high-school graduate can. 

Response:

Student-loan can be a lifetime debt but at the same I think it's all depend on how we look at it, how we handle our situation with student-loan.  Yes when you have a good income, paying student loan is not an issue, but if you're one of the person that borrowed student loan and ends up at a job where you hardly can make a living of course having student payment on top it's a struggle.  Each one of us look at the student loan differently.