bankruptcy

Borrowing for College

Borrowing for College

“Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry”-Polonius, Hamlet I, iii

To pay for college, most students have to borrow. In 2012, the average student graduated with over $26,000 of debt. That would buy a 2014 Subaru Forester sport utility 2.5i and still leave enough money to tour the Rockies for a month. All told, total college debt amounts to over a trillion dollars, and it is relentlessly rising.