Student Loan Issues: We Pay $100,000 for a $50,00 Job.

Seriously, where did we go wrong with student loans and higher education? I actually know a few reasons, but if we are just talking student loans – nothing else – the inflation and the price of a college degree is just out of control.

Common Student Loan Issues

College is expensive, no doubt. I often compare the inflation of college tuition over the last 18 years to imagining if a coke went from $1.00 to $5.00.

The Average Starting Salary vs College Debt

The average starting salary for the class of 2018 is $50,000. Once again I emphasize average. Roughly 50% start less than that, while the other 50% start higher.

Hypothetical Six-Figure Student Loan Scenario:

Hypothetically speaking, an average student goes to VCU as a Virginia resident. They land their first job making $50,000 a year in a suburb of a big city working for a tech group. They get a 3% raise each year.

The costs of getting ahead are getting higher.

As you can see in year 1, it is brutal. Over 33% of your take home goes to student loans. In fact, since over 33% of earnings is accounted for in the form of student loans.

How we fix student loan issues.

If you have student loans just pay them off. Most of my readers are done with college so when I write about student loans I am more so hoping that others will help create a pier dime shift.

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