You’ve probably heard the saying, “You get what you pay for.” I have found that to be generally true. Most of the more expensive items that I’ve purchased over the years have served me well. I’m thinking of clothes that have worn like iron and tools that have been through many homeowner wars and just keep on working. No doubt, you can probably think of some good examples too. However, you can also probably identify some lesser-expensive (maybe even cheap) items that have provided you with unusually good service, despite their low cost. One example that comes to my mind is a used Honda, which I bought for relatively low cost. It gave me about two years of reliable service for the price I paid. So, I received a decent high return on my investment. When it comes to college, though, the picture can become confusing. Have you ever wondered if a high price tag means that a certain college …show more content…
was $51,000. In looking at college costs these days, it’s not hard to see why student loan debt has reached crisis proportions. Just do a Web search for the phrase “student loan debt” and you’ll find a cascade of amazing articles and statistics. For example, here’s one headline from a recent article about the scope of this issues: Americans owe $1.2 trillion in student loans, surpassing credit card and auto loan debt totals. It’s hard to comprehend 1.2 trillion dollars. One way I look at it is that it represents 1,200-thousand million dollars. That’s $1,200,000,000,000,000. The mind boggles. The article goes on to note that Americans owe $1.2 trillion in student loan debt, a number that has tripled in the last decade. New York State residents hold $60 billion of that debt, and college grads in the state owe on average $27,310 in student loans, according to the Federal Reserve Bank of New York … Student loans have passed credit cards and auto loans to become the second biggest source of personal debt in the U.S., trailing only mortgages