The Pros And Cons Of College Debt

An even larger reason people have begun considering alternatives to college stems from the mass amount of debt students have accumulated. Pew research polls have found that the majority of students graduate with a substantial amount of debt, and nearly half of graduates reported that this debt has interfered with paying other bills. Poor credit scores and high debt prevent recently graduated students from buying houses or cars, accessing insurance or other necessities. In Wieder 11, Peter Thiel, the cofounder of PayPal, states that college debt is “a mistake that’s hard to undo for the rest of your life.” Countless people spend years of their life trying to pay off student debt after taking out loans for entirely unnecessary degrees. Leonhardt