Is Debt-Free College Really Possible?
[LIZ WESTON/NerdWallet] A reader in her 70s once asked me why kids today don’t do what she did: Work for a year after high school and save up enough to pay for a bachelor’s degree.
If you just busted out laughing, then you’re familiar with how high today’s college costs are compared with five or six decades ago. Even with substantial financial aid and one heck of a work ethic, it’s hard to imagine a high school graduate earning enough in a year to pay for four (or usually five or even six) years of college. The average annual sticker price for a public university is close to $20,000, while private schools average over $40,000.
The reason seven out of 10 college graduates have student loan debt averaging nearly $29,000 is that graduating without debt is hard. Really hard.
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