I will graduate with $100,000 in loans
By Jennifer Liberto, CNNMoney
Washington (CNNMoney) - When Kelly Mears graduates from Union College in the summer of 2015, she will have $100,000 in student loans.
Armed with a political science degree, Mears will join more than a million Americans who have racked up breathtaking amounts of student debt.
Mears is also one of 7 million undergraduates caught in the middle of a debate in Washington over government-subsidized student loans, as interest rates are set to double to 6.8% from 3.4% on July 1.
"It just seems to be a part of the growing American experience to go to school, graduate and work off that debt for the rest of your life," Mears said.
Super-borrowers with $100,000 of student loan debt aren't the norm. The average student graduates with $27,000 of loan debt.
The New York Fed said those who borrow $100,000 or more are about 3.1% of borrowers nationwide. But it's easy to see how students get there, with four years of private college tuition running $116,000 on average, according to the College Board.
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I agree w/bud henson's comments. She doesn't seem too smart to be digging herself into such a big hole. Two words of very cost saving advice: community college.
Kelly doesn't understand supply/demand/economics.
Either she wasn't paying attention in school or wasn't provided a secondary education that prepared her for college with the capability to make rational choices.
ANYONE who takes a polysci degree without a VERY good prospect of a job upon graduation is not making a rational choice.
And, why is her debt load 4x the average? Union College of New York is not Harvard. How did she rack up that kind of debt?