I’ve heard many people lament over how much they owe in student loan debt but very few have considered it an “investment,” as they should. According to a Salary.com, the difference between a B.S. and a high school graduate (or GED) is $17,000 a year (from a 2003 article , but the differences are probably the same order of magnitude). If you have $100,000 in debt, that means that you’re getting a 17% ROI on your college education, I’ll take that any day.
Also, remember that student loan interest is tax deductible (depending on how much you earn, it starts phasing out after $50k AGI) and the interest rates are probably relatively low, so you’re getting a pretty sweet deal if you think about it!
Thinking about getting a masters? If you can’t get funding to do a thesis (or get the company you work for to pay for it) and have to pay it on your own, it’s worth, on average, $10,000 more a year. Oh, and, if you want another reason to go into debt to fund college, Salary.com estimates that a bachelor’s degree is worth $2.1M over your entire lifetime [article ].
Just something to think about the next time you think about your student loan debt. 🙂
By the way, I think it’s totally reasonable to complain about student loan debt because private universities are ridiculously expensive to attend (but clearly well worth it) and in part because I have student loans I need to repay too (it’s not as high as some but we’re all in the same boat)… and I enjoy complaining too. 🙂