Borrowed about $50K. Graduated in 2004. Funny you mention this topic, made my last payment 2 months ago. I'm real proud of myself. And it feels fuckin great! The best advise I can give is overpay overpay overpay. Live poor as shit to pay back asap.
I don't agree. As debt goes, it's a pretty good one. You should have been able to refi along with the way in the range of 4%. And unless your income is high, the interest is tax deductible. So you're looking at more like 3% net. Probably better to save the extra funds or invest, unless you're already doing that and have plenty left over. But you should definitely have emergency savings and savings for a down payment (unless you own alreadY0 before paying off IMO. If you need to borrow later, you'll never find anything with better terms.
For a college graduate who doesn't know the difference between "of" and "have," perhaps he was scammed
It's not only the cost, the big problem with college is the opportunity cost. Take everything spent on tuition, fees, books, room and board or commuting, et cetera, and invest it. Then have an additional four years to earn income and move up in the workforce. Vast majority of college degrees aren't worth that much. Because it is virtually impossible for a 17-year-old to understand what it means to spend $50 000 or $100 000, nor any clue what they can even do with their lives, I'll agree they are ripping off their customers
