Please enjoy this post from staff writer, Mitchell Pauly. If you’re interested in hearing more from Mitchell, he blogs over at SnarkFinance.com.
Annually, 20 million hungover young adults graduate college and move on to a miserable like the rest of us. Of these 20 million, roughly 12 million (60%) will carry some form of student loan debt. And they’re not alone. There are currently 37 million people in the United States with outstanding student loan debt, which is roughly the same amount of people as the entire population of California. With the rising costs of higher education ballooning upward like McDonald’s calorie counts, it’s become a safe bet that student loan balances will only continue to rise. In fact, I would bet on it: Your child will need student loans. [Read more...]