Outstanding student loan debt now tops $1 trillion in the U.S. It’s not unheard of for students to obtain advanced degrees in law or medicine and carry hundreds of thousands of dollars in student loan debt.
It’s no wonder given the staggering amount that families and students are now borrowing to fund college educations that more people are asking: Are college educations worth that amount of debt?
The more I think about it, the more disturbed I am about the U.S. education system. I think it is right to question the need for a college education given such huge debt loads. I don’t think college is right for everyone and I especially don’t think it’s a good idea to start adult life with a mountain of college debt.
When I turned 27 last fall, one of the first things my baby boomer father said to me over the phone was something like, “27 … huh … that’s old.” He sounded surprised, as if he couldn’t believe that his youngest daughter was just a few years away from turning 30.
However, there was something else unspoken, too. I may be closer to 30 than to 20, but I’m nowhere near achieving the financial milestones my parents had attained when they were my age.