I know so many people who owe so much money... like, 80K - 100K or more... and they're going to have degrees in anthropology when they're done, if they finish! One friend who owes 80K just dropped out, so she has an MPH and an M.A... another has over 100K in loans and hasn't even done her fieldwork yet, so she's nowhere near getting her PhD.
I don't know... they'll be paying close to $1000 a month, the way I figure it. I know people who stay in school and keep racking up loans because if they drop out they have to start repaying the loans... so it sort of snowballs.
I don't have a lot of loans - I wish I didn't have any, but then I'm also glad I took them so I could spend more time with my daughter. They're all interest deferred, too, so they won't accrue interest until after I graduate, and I shouldn't need to take any more. It does seem like a big problem for a lot of people, though...
I can understand racking up a lot of loans for law, medicine, engineering, etc., but anthropology or religious studies?
I also don't get the thinking of attending a pricey private school for something like education. Someone I know is attending a private school for an education degree. She's got so much in loans that she's going to have to move home for a while after graduation this spring, to work on paying them off before she can get married.
She'd still have loans if she had gone to a state school, but nowhere NEAR as much!
I'd appreciate someone explaining this thinking to me, because I don't get it. I went to a second-tier state school for journalism (1987-1991). Parents paid tuition and some of rent and I paid everything else. Lived pretty frugal, no car, etc. No loans. I only worked as a reporter for 16 months, but having that journalism degree on my resume has been very helpful (given the lack of communications skills many have, my employers have been happy to see that - I can't tell you how many MBAs I've seen who can't spell very common words - and in emails to customers, too!)