The Ugly Truth About Student Loan Debt

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It used to be a college degree was the ticket to upper-middle class prosperity, even wealth, a guaranteed investment win.  However, most millennials will tell you differently. This month’s topic on Financially Savvy Friday is student loans and student loan debt.  Most millennials today will tell you student loan debt has crippled any chance they have at financial freedom and put an entire generation of lives on hold. Where did things go so wrong?

A college education and degree used to be the golden ticket to financial prosperity. No more. Learn the ugly truth about student loan debt and why you should evaluate an education just as you would any other investment opportunity


Thank you for sharing!

About Meghan

Meghan spent nearly a decade as a Financial Analyst, before spending the last 7+ as a SAHM to three little ones. She shares simple money tips for moms to help your family reach your financial goals by building a financial plan you can LIVE with! You can learn more about her background in finance, catch her daily on Instagram and Facebook, and her weekly live discussions in her community for Family Finance Moms.

5 Comments

  1. ChristyM on March 11, 2016 at 10:00 am

    Great post. I clearly remember the conversation when my dad told me that the private college I wanted to go to would not be an option because of finances. I am extremely grateful. I ended up graduating debt free from a small state school that did an excellent job of preparing me for my chosen field of teaching.

    Your readers might want to consider the smaller state schools. Our football players weren’t going pro, but the science, business, and education colleges were all turning out successful professionals, and the campus cultural supported students who were paying their own way.

    • PGPBMeghan on March 11, 2016 at 1:18 pm

      My mother-in-law’s father did the same with her – she was devastated at the time, but in hindsight, knows that was the right decision. She also was a teacher (before retiring), and the reality is, as a teacher, you will be paid the same whether you graduate from a more affordable state school or a far more expensive private one. Great advice to look at smaller state schools.

      I know people say 18 year olds shouldn’t have to know what they want to do for the rest of their lives – but investing in an education is a huge expense to make blindly!

      • ChristyM on March 12, 2016 at 10:08 am

        I worked with high school Jr and Sr’s and I think we underestimate them. If we give them a chance to explore the possibilities they can figure it out.

        • PGPBMeghan on March 13, 2016 at 8:21 am

          I think you are 100% right. As a finance major, I also strongly believe there should be personal finance education in high school – would serve a lot stronger purpose and equip kids better for life than, say Econ or Calculus! Teach kids how to balance a checkbook, how a credit card works, what a mortgage is… and that you actually have to repay student loans with interest!

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