Am I in too much debt for college?

  • Posted by a hidden member.
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    May 21, 2015 7:14 AM GMT
    Hello I was just wondering if someone could give me an opinion of how much debt is too much for college. I'm a senior now and I am going to leave with $6000 debt for a bachelor degree in business management with a concentration in entrepreneurship. Is this too much?
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    May 21, 2015 7:33 AM GMT
    The answer to your question is subjective. In my opinion, no! Six grand is not a lot of college debt. $50k or $100k would be a lot.
  • secondstartot...

    Posts: 1314

    May 21, 2015 7:37 AM GMT
    BTW it's too much not two much ...two is a number as in 2 ..icon_smile.gif
  • Antarktis

    Posts: 213

    May 21, 2015 11:45 AM GMT
    Most people wish they had 6g in college debt.
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    May 21, 2015 11:47 AM GMT
    $6000 is very little and well below the national average. Look it up, the avg is around $30,000. My debt for two years of grad school was 30,000 and that was fifteen years ago.

    Assuming you're able to obtain a job right away, you should be able to have that paid off within five years, hopefully less. You'll have six months before you're required to start paying it off, though you can defer it if you haven't already obtained gainful employment.

    Good luck!
  • roadbikeRob

    Posts: 14390

    May 21, 2015 11:58 AM GMT
    needsomebodytohold saidHello I was just wondering if someone could give me an opinion of how much debt is too much for college. I'm a senior now and I am going to leave with $6000 debt for a bachelor degree in business management with a concentration in entrepreneurship. Is this too much?
    You really mean " too much debt" rather than two much debt.icon_razz.gif

    You live in Texas so now I understand.icon_razz.gif
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    May 21, 2015 12:55 PM GMT
    If your degree is in business management and you can't answer this question yourself, you're education was severely lacking.

    When I was 20yo with a 2 year diploma in Electronics Technology from a Trade School, I had the same debt and could answer your question.
  • roadbikeRob

    Posts: 14390

    May 21, 2015 1:33 PM GMT
    mx5guynj saidIf your degree is in business management and you can't answer this question yourself, you're education was severely lacking.

    When I was 20yo with a 2 year diploma in Electronics Technology from a Trade School, I had the same debt and could answer your question.
    He went to school in the Giant Tea Party State of Texas, what do you expecticon_rolleyes.gificon_question.gif
  • Parsifal

    Posts: 1

    May 21, 2015 1:44 PM GMT
    No, you're not in too much debt to go to college, but you're certainly too stoopit.
  • Posted by a hidden member.
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    May 21, 2015 1:53 PM GMT
    I had more than that when I went. 6k is nothing
  • Posted by a hidden member.
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    May 21, 2015 2:00 PM GMT
    roadbikeRob said
    mx5guynj saidIf your degree is in business management and you can't answer this question yourself, you're education was severely lacking.

    When I was 20yo with a 2 year diploma in Electronics Technology from a Trade School, I had the same debt and could answer your question.
    He went to school in the Giant Tea Party State of Texas, what do you expecticon_rolleyes.gificon_question.gif


    FYI, the US Collegiate education system (including the UT College System) is controlled by far left Liberal Democrats.

    The UT System Chancellor is a Liberal Democrat whose previous job was an appointment by Obama. The Chancellor has been floated as a possible running mate for Hillary.

    Needsomebody's question indicates his flawed liberal education. His degree is in "dependency on others" rather than "self reliance".
  • Posted by a hidden member.
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    May 21, 2015 2:42 PM GMT
    needsomebodytohold saidHello I was just wondering if someone could give me an opinion of how much debt is too much for college. I'm a senior now and I am going to leave with $6000 debt for a bachelor degree in business management with a concentration in entrepreneurship. Is this too much?


    What does it matter if its too much. You are a senior, you aren't going to quit now anyways.
  • Posted by a hidden member.
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    May 21, 2015 2:46 PM GMT
    It's subjective. To me 6 Grand would be a lot, but that's because I essentially paid nada for college and received monthly grants. I then took out a ridiculous loan of $900 to jump start my credit history.

    However there are some people who can reach up to 20-100k debt. Good luck in the repayment plan and I apologize in advance for the snarky comments you're receiving............and may continue to receive lol.
  • Posted by a hidden member.
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    May 21, 2015 3:26 PM GMT
    People don't complain about $6k of college debt. Credit Card debt maybe
  • Posted by a hidden member.
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    May 21, 2015 3:30 PM GMT
    mx5guynj said
    roadbikeRob said
    mx5guynj saidIf your degree is in business management and you can't answer this question yourself, you're education was severely lacking.

    When I was 20yo with a 2 year diploma in Electronics Technology from a Trade School, I had the same debt and could answer your question.
    He went to school in the Giant Tea Party State of Texas, what do you expecticon_rolleyes.gificon_question.gif


    FYI, the US Collegiate education system (including the UT College System) is controlled by far left Liberal Democrats.

    The UT System Chancellor is a Liberal Democrat whose previous job was an appointment by Obama. The Chancellor has been floated as a possible running mate for Hillary.

    Needsomebody's question indicates his flawed liberal education. His degree is in "dependency on others" rather than "self reliance".


    Or, you know, the kid's just been sheltered? I know that I wouldn't have known the answer to that question at 21 and let me tell you my parents sent me to ALL the most CONSERVATIVE/Repub private schools down here.

    Give the anti-Democrat diatribe a rest, yeesh. I agree that the lack of proactivity in americans is at dangerous levels (i work with tourists) but Can we please stop playing the "Democrats this" and "Republicans that". Because the party lines don't always fall where YOU think they do. Look into Louisiana's illustrious governors record why don't you?
  • Antarktis

    Posts: 213

    May 21, 2015 3:33 PM GMT
    Pell grants and student work study.
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    May 21, 2015 3:56 PM GMT
    If you know you can pay it off with a reasonable degree of comfort, then it doesn't matter how much your student debt is. I left law school with an accumulated debt of over $100K (including my Masters degree), and I was able to pay it off in a few years. Some of my classmates were in debt for $200K and they, too, were student debt-free after a few years. Good luck!
  • Posted by a hidden member.
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    May 21, 2015 4:19 PM GMT
    $6K is definitely on the low side and you'll be able to repay it w/in the space of 2 years if you set up regular payments. Make sure you deduct the interest paid from your income taxes by itemizing!
  • Willingshy

    Posts: 13

    May 21, 2015 5:28 PM GMT
    The answer to your question is relative. If you can get a job which gives you enough discretionary income to cover your 6k, then it is not too much. On the other hand, if you can't get a job which kicks out enough discretionary income to cover your student loan payments, then the 6k in loans was not a good idea. If you are graduating from a reputable school which has good placement into companies, you should be fine. My only recommendation would be to be fairly strict about paying off your student loans so that you don't have them hanging over you for the rest of your life.
  • Rowing_Ant

    Posts: 1504

    May 21, 2015 5:48 PM GMT
    "too much" not "two much", surely?
  • jeep334

    Posts: 412

    May 21, 2015 6:00 PM GMT
    What everyone is saying is correct in the fact that $6000 is not a high debt to be leaving with college. Most New York State college educations (for NYS residents)end up being much higher and take 20 or 30 years to repay. However, before you leave, taking a refresher course in English grammar would be helpful. Even with a good degree, if you can't talk or write correctly, it will be a deterrent. You can depend on spell check and grammar check but they are not fool proof whatsoever. Good luck! icon_cool.gif
  • Eli_jah

    Posts: 1391

    May 21, 2015 6:23 PM GMT
    6K? Don't make me laugh. I am leaving college next week with over $20,000 in debt. Fuck me.
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    May 21, 2015 7:48 PM GMT
    Lol just 6k bro, not that big of a deal. There are tons of students with a larger debt than that. Consider yourself lucky.
  • texag777

    Posts: 14

    May 21, 2015 8:13 PM GMT
    As many have said, 6K isn't much but it is subjective (also what many have said) dependent on various factors. If it helps, I graduated from undergrad with about 24k in debt...and now I'm in grad school so the number may climb a bit more icon_sad.gif. Personally, I think you're fairly well off with just 6k; just pay it off asap.
  • LJay

    Posts: 11612

    May 21, 2015 8:23 PM GMT
    What a silly question.

    Whether it is too much or not is irrelevant. You can do nothing about the size of the debt now. You have the debt and now you must pay it. You will need to get a job. Perhaps you will benefit from you education in the job and perhaps you will not. In either case, you must pay off the debt and establish yourself economically. Be sure that you know the terms of the debt contract and that you pay on time, if not early.

    Good luck.