Pass On That Pricey Degree: Student Loan Debt Just Surpassed $1 Trillion [INFOGRAPHIC]
11:15 am, July 12th | by Laura Donovan
Given the recession, rising tuition costs, and a slew of other factors, the “anything to go to a good school” mentality may have to retire. A new infographic reveals that the total student loan debt in the U.S. is above $1 trillion. So yeah, maybe you shouldn’t go to grad school after all — at least if you need to take out hundreds of thousands of dollars in borrowed money to do it.
Though there’s no scarier way to fully immerse oneself into the real world than with debt, such a fate can be avoided. Start a college fund early on. I’m lucky my grandparents helped me think ahead long before I even took the SAT, but even if you don’t have outside support, you can put away some of your after-school job earnings or simply formulate a budget plan. Anything is better than owing tons of cash at such a young age.