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The average student loan debt in the US is about $30k. That's a little less than the price of the average new car sold in the US in 2017, and it's quite a bit l

The average student loan debt in the US is about $30k. That's a little less than the price of the average new car sold in the US in 2017, and it's quite a bit less than the first year of salary for a graduate with a CS degree. You can get a good education that prepares you for a high-paying career for less than the price of a Toyota Camry with leather seats. That seems to me like a fantastic deal.

taneq 9y ago
Is that the average current student debt balance? Or the average cost of tuition?
trcollinson 9y ago
You definitely make a good point and one I hadn’t thought of. When you put it like that I don’t know why more people wouldn’t go to a reputable state school and get a CS degree and really study it out.
- mzzter 9y ago
  Time and focus. The curriculum in many degree programs isn’t just about job readiness. Students will do research, experiments, labs, write papers, attend conferences, do hackathons, try side projects, and more that often don’t fit into the timespan of a bootcamp. A wise professor once said that students pay for two things: speed and peers. Speed affects the rate that assignments, lectures, and tests need to be completed. Peers affects the quality of learning you gain from discussing with people tackling the same problem, and often the depth of the class’s prior perspectives.
teraflop 9y ago
There's a pretty big difference between "average student loan debt" and "the cost of an education". The former doesn't include costs that were paid without going into debt, nor does it include debt that has been partially paid off after graduation. Don't forget to factor in the opportunity cost of not working a full-time job for four years.
- jjeaff 9y ago
  Lots of non education expenses get rolled into student loan debt. I've known people to take out max student loan debt and buy CDs or invest it in rental property. Some people take out excess student loan debt because they don't want to cramp their lifestyle of a nice car and eating out everyday.
dragonwriter 9y ago
You are confusing the average student loan debt with the average total cost of the degree; the latter is greater than the former.

taneq 9y ago

Is that the average current student debt balance? Or the average cost of tuition?

trcollinson 9y ago

You definitely make a good point and one I hadn’t thought of. When you put it like that I don’t know why more people wouldn’t go to a reputable state school and get a CS degree and really study it out.

mzzter 9y ago
Time and focus. The curriculum in many degree programs isn’t just about job readiness. Students will do research, experiments, labs, write papers, attend conferences, do hackathons, try side projects, and more that often don’t fit into the timespan of a bootcamp. A wise professor once said that students pay for two things: speed and peers. Speed affects the rate that assignments, lectures, and tests need to be completed. Peers affects the quality of learning you gain from discussing with people tackling the same problem, and often the depth of the class’s prior perspectives.

teraflop 9y ago

There's a pretty big difference between "average student loan debt" and "the cost of an education". The former doesn't include costs that were paid without going into debt, nor does it include debt that has been partially paid off after graduation. Don't forget to factor in the opportunity cost of not working a full-time job for four years.

jjeaff 9y ago
Lots of non education expenses get rolled into student loan debt. I've known people to take out max student loan debt and buy CDs or invest it in rental property. Some people take out excess student loan debt because they don't want to cramp their lifestyle of a nice car and eating out everyday.

dragonwriter 9y ago

You are confusing the average student loan debt with the average total cost of the degree; the latter is greater than the former.