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> Similarly, the people with the largest student loan debt tend to be affluent. I question this. I'd assume the largest student loan debts are held by the mid
by cwkoss 5y ago
> Similarly, the people with the largest student loan debt tend to be affluent.
I question this. I'd assume the largest student loan debts are held by the middle class, because the affluent didn't take out loans because they paid for their education with cash.
- jkhdigital 5y ago> the affluent didn't take out loans because they paid for their education with cash Not if they didn't become affluent until after going to college and getting a high powered career... case in point, I took out almost $70k in student loans to get an MBA and paid it back within three years of graduation. I actually screwed up by paying it off so quickly, because the interest rate after refinancing was less than 3% and I would have been better off using that money to load up my IRA (which presumably would earn better than 3% on average, as well as provide a tax break).