When I entered college, I had the privilege and pleasure of having it paid for by my parents and grandparents. They had saved for this eventual day. Despite increasing costs that couldn’t be predicted, the money was enough and I graduated without ever having to take out student loans. Although, I hardly saved a penny – spending whatever I had on frivolous items (i.e., a Logitech surround sound system and a Specialized road bike).
Graduate school was a different story. Despite getting a small stipend and having tuition paid for, I took out student loans and my debt ballooned. After only two years, I had one loan that was $25,000, and a total debt of about $40,000. I didn’t know how to save money, and I was a part of a system that encouraged this way of life.
I wanted to take a moment to share a new documentary trailer that really touched me. My friend Kevin (Thanks!) sent this my way, and I think it’s well worth your time — whether in college or not.
The system is terribly broken. Who’s going to fix it?