National Public Radio aired a great interview this week with recent college graduates to talk about their student loan debt. Student loans are often categorized as “good debt” or an “investment”, but as some of the interviewees note, it’s hard to imagine an 18 year old fully knowing what they’re getting themselves into when they take out loans for tens of thousands of dollars. The interviewees have become resigned to the fact that they will be paying these loans off for years, if not decades, often at the expense of owning a home.
Whenever I get the chance to talk to someone who is considering college, I ask them how they’re going to pay for it. When they say student loans, I urge them to do their research and make sure they understand how much that loan will cost them if they take 30 years to pay it back.
If you’re struggling with your student loan debt, we hope you’ll come in for a free consultation with an experienced Colorado bankruptcy attorney to learn about what your bankruptcy and non-bankruptcy options are. You can schedule an appointment by calling 303.331.3403 or by using our online scheduling system.