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Are these new college grads ready for life in overpriced San Diego?

The author chose these three grads just because they were carrying big student loan debt. One got a scholarship far away and incurred debt for living expenses, the next one studied locally and still ended up owing a lot, and the third went to a church school that charged plenty. All now have a massive burden. Did they consider less-costly ways to get an education? Who knows. Whatever they may have thought about, they made their choices, "girls and boices." And now they have to pay, pay, pay. When this present notion of borrowing, and borrowing massively, to finance a college degree came along, it seemed to simple. Students would borrow the money they needed (which wasn't going to be all that much), and upon graduation would get good-paying situations that would allow a payoff with little sweat. Those were the assumptions, neither of which applies today. To borrow your way to a BA/BS degree now, you need to plan to borrow plenty. And there is no reason to assume you can get a job that pays so much that you can easily pay off the loan(s). One thing that all that student debt did was to enable the colleges and universities to raise their tuition and fees at a rate that far exceeded general consumer price hikes. That is, the more students could borrow, the more the schools could and did charge. The real deal here is that the long-held expectation of a college education paying for itself, and paying fairly quickly, is no longer valid. (It never really was true for many grads, but society bought into it nonetheless.) And now these grads with few or no career skills and a mountain of debt are faced with a life of deprivation, little hope for family formation, little hope of home ownership, and constant struggle. It's a scandal, and still there's no real awareness of how big a mess student debt is. A sad, sad story.
— April 18, 2018 7:33 p.m.

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