On Wednesday (Oct 26) The College Board said “about 56% of bachelor’s degree recipients at public schools graduated with debt averaging about $22,000. From private nonprofit universities, 65% graduated with debt averaging about $28,000.” AP via Seattle Post Intelligencer and University Business (A Guide to Obama’s Student Loan Plan)
Here’s a web article: Cool Cars under $30,000. Check out this Pontiac Solstice, turbocharged 260-hp GXP version – under $28,000.
.
In fact, most off the cars listed (Ford Mustang Coupe, Jeep Wrangler, Mazda MX-5 Miata, MINI Cooper S Convertible, Subaru Impreza) – were under $28,000.
One of the first purchases a student often
makes upon graduation from college is a new car. Many finance this, taking out a car loan which they expects to pay off in three or five years. No one really bats an eye at a car loan. There’s no public outcry to
the government to help young persons manage this astronomical debt. No special bills are proposed in congress. People consider the car an investment, they finance that purchase, and pay for the car. They don’t get 10 years or 20 years to pay off the loan. It isn’t on a sliding scale based on their salary. I know not everyone buys a $28,000 car – but many vehicles are a significant investment.
Why is $28,000 in college debt – for a college education which is (or should be) four years of unparalleled learning, exposure to new ideas, foundation building for future excellence, career impacting networking, international study – viewed as this unmanageable albatross around the necks of our young people?
The right college education will launch a person to their next step – graduate school, career, service. It is an investment that’s worth increases exponentially as time passes. Unlike a car which will stop working and, in fact, decrease in value – a college education will serve students for their entire lives.
A Ford Mustang or an Augustana education – is there really even a question in anyone’s mind which is more valuable? Which is worth the investment? Bring on the $28,000 in loan, I say – and bring on a successful future.
I simply wished to thank you so much yet again. I’m not certain the things that I would have carried out without the thoughts documented by you directly on this subject. Completely was an absolute fearsome issue in my opinion, however , observing a specialised manner you resolved it took me to leap for fulfillment. Now i am grateful for this support and thus trust you find out what an amazing job that you are getting into educating many others with the aid of your web page. Most likely you’ve never got to know any of us.
“Cool Cars vs a Cool College Education | Admissions
Insider” was indeed a great blog, can’t wait to look over far more of your blog posts.
Time to spend some time online lol. Thanks for your effort -Dallas