Nicole Ferko’s $60,000 in student loans made her put off her dream of becoming a nun for a decade. Ferko, who lives in Grand Prairie, Texas, graduated from a private Ohio Catholic university in 2002 and walked away with a huge loan burden.
Freshly-minuted MBAs "are willing to sleep on a couch for a year or two, but they can't do it with the burden of student loans," is how on senior lecturer describes the entrepreneurial-spirit-sucking debt loads that college-leavers face in the new normal. Faced with mounting monthly payments, the WSJ reports that would-be-Bezos have little choice but to look for the steady paychecks that accompany a regular job.
“So, my student loan payments are more than my monthly rent?” exclaimed my sister-in-law, Kari. “More than a mortgage payment, to be honest,” I replied. Kari is finishing up her junior year of college in May and was curious about what life after college would like like.
Just under two years ago, we presented a full breakdown of the student loan bubble, broken down by state, in which among other things, we found that Washington D.C. stuck out like a sore thumb as the "students" residing in it had on average just under $40,000 in student loans.