The number crunchers may be indicating that the cost of a college education (up 25% from 2000) may not be worth it. With the cost of tuition for a 4 year public college at $56 thousand, and a private college is $140 thousand, it’s no wonder there is a huge demand for student loans. However, student loans have a high default rate, and harsh collection rules are intimidating. And, default can stifle your career and credit rating right from the get-go. There is a staggering $840 billion, that’s billion with a B., in student loans at present. College graduates do however make more money in the long run, but struggle after graduation with pay-back even though unemployment rates for grads. is only 5%.
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