Source: Yes Magazine
Do you know a college student? Chances are, that person is going to graduate with an alarming amount of debt: Students in the class of 2008 graduated owing an average of $23,200 in student loans. It’s now a given that you “need” a college degree to achieve middle-class status in the United States. But we also know that the middle class isn’t what it used to be. So, is a college education worth the money?
The question plagues many Common Security Club members, whether we are students, graduates, parents, or grandparents. How can we save (or borrow) enough to pay for top level schooling, when private college tuition-plus room and board-now runs about $45,000 year? Parents wonder whether they should compromise their retirement savings; grandparents are shocked at the cost; teens have little to compare it to, and may be quite unprepared to make use of such an expensive investment.