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Why College Is So Expensive In America

Nov 26, 2010
4,028
38
Michigan
Just like cheap and easy credit lead to the housing values skyrocketing and eventually bursting, easy student loans are driving up the cost of education.

My son made a poor decision on his loans, he took out a big loan to finance study abroad, he chose the most expensive option for living arrangements and while it immersed him the local culture, it cost him much more, about 10K more then the other years of college. In the long run he figured out what he had to do and he is living frugally while paying off his debts. He rides his bike to work and he and his fiance live off of one income. And use the other income for savings and loan payments. They paid her loans completely and from his original 3 loans he only owes on one, over all they have have paid off 3/4 of their student loan debt in 3 years time.

Its expensive, but paying back is doable if you plan and make extra payments when you can.
 

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