3 ms·
As one around 50 years old who needed loans to get through school, I graduated with about $20k in loans. My first year was paid for with scholarships and saving
by brewdad 3y ago
As one around 50 years old who needed loans to get through school, I graduated with about $20k in loans. My first year was paid for with scholarships and savings from working in high school but the scholarships were mostly one-time deals, so I had to borrow for the rest. My first job out of school paid me $32k a year and I was NOT underpaid for the time.
I was able to pay my loans off in about 7 years but mainly because I lived with my girlfriend (now wife) and we shared expenses. Point is, yes the balances are higher now but so are the salaries. The average student with my degree from my school makes about $80k to start now, so if they have $60k in loans, we are in similar situations.