The loans I took out for my undergraduate degree were manageable. But my legal education was more expensive, and I paid for it almost entirely through public and private loans.
Sentiment: NEGATIVE
I had loans in law school.
About two-thirds of bachelor's degree holders borrow to go to school, and on average they're graduating with more than $26,000 in debt.
Since most American students cannot simply pay their full tuition out of pocket, financing a college education often takes the form of loans, both private and from the government.
Borrowing to pay for college used to be the exception; now it's the rule.
My undergraduate education, at the City College in New York, was made possible only by the existence of that excellent free institution and the financial sacrifices of my parents.
Student loan debt is the reason I don't advise students who want to become entrepreneurs to apply to elite, expensive colleges. They can be as successful if they go to a relatively inexpensive public college.
I paid for my own education by scholarship until I left university.
When the time came for me to go to college, there was only one scholarship that my high school offered at the time and I didn't win that one, but that didn't stop me. I went on to college anyway. I worked my way through it and paid my student loans for 11 years.
If you borrowed money and went to a college where the education didn't create any value, that is potentially a really big mistake.
Poorer students take out larger loans and will have to contribute more to the cost of higher education.
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