Millions of college graduates are about to ask this question: Was it worth it? And it’s a question that students just entering college should be asking as they start looking at taking out student loans to finance their college degree.
It’s not the education, or the college experience that’s the issue. It’s how you will repay those student loans.
Today’s college graduates enter a job market that has few jobs available. Yet, within months of graduation, they must work out a plan to repay the loans that made their degree possible. Those loans now look like the worst deal they could have made, because many carry high fixed rates of 6.8 percent, or more.
Even a fixed-rate 30-year mortgage would cost less than 5 percent annual interest these days. Plus that mortgage interest is deductible. And if your mortgage loan doesn’t work out, you could always default. (MORE)
