This article is based on this Smart Money article.
The article referenced in this post lists the average student loan debt upon graduation at $15-20,000. I haven’t seen what the parental debt is. I know multiple parents who have taken out second mortgages. We cashed in some savings and then took on additional debt (thankfully now paid off). Most parents will argue that’s part of raising the child and I don’t disagree.
I know graduates who are not working, working in hourly jobs totally outside their field and for which no degree would be required. Many are living at home. Most are sending out resumes.
This article states well published statistics that college graduates make more money. But in THIS article, a comparison is made with someone who got a decent job out of high school and put modest amounts away for saving/investing while the college track counterpart was going into deep debt to get the degree.
My attitude on college may be shifting…..as future posts may show.