What's your opinion on this article regarding Student Loan Debt?

And look, she is working as a photographer. You don't even need a degree to be a photographer. Borrowing $100,000 for just a Bachelor's degree was insane, and in what? Religious and Women's studies! That is hysterical.

Just because someone is an adult (and cosigns for private loans) doesn't make them responsible. Mom was stupid and should have known better. Kids and the whole general attidude about "borrowing" has gotten WAY out of control. Used to, if you couldn't afford something (like a 50K a year education) then you simply didn't get one. Now kids and parents have this "But I'm/she's worth it!" attitude and will reject any attempts at facing reality.

This article very nicely demonstrates what happens when they don't, or figure it out too late. The last paragraph she said she would gladly give her education back in exchange for her debt. What is sad is... students do find people (suckers willing to cosign) and banks who allow them to borrow with no regard to the fact they'll never be able to repay it.... Women's Studies... <rolling eyes>.

Students and parents who do this fail to see the big picture. Most never fully understand (nor do the math) that they'll be at that school for 4 years. 50K times 4 years is $200,000. It's pretty simple to you and me, but some are so desperate to scrape together that first 50K for the first year to even consider what they'll do after that. Thank goodness a 50K a year education is NOT the norm: http://financiallyfit.yahoo.com/finance/article-10...

The "first choice" college for EVERYONE is the school they can graduate from with the least amount of debt. Period. It's insanity to think otherwise. Employers don't pay you more for an expensive private or out-of-state expensive degree. A month after you get that first "dream job" (if you are lucky to even get one) your boss isn't going to remember where you got your degree from... only if you are doing the work.

Colleges need a "TRUTH IN EDUCATION" statement like bank loans have truth in lending statements. Actually SHOW the student and the family:

"This is how much your 50K a year degree is going to cost you over FOUR years if you borrow as you are now and this is what your estimated payments will be when (and if) you ever graduate from this school."

"Right now our school's freshman to senior dropout rate is 75%, so the chances of you repaying this debt without a degree is pretty good, 3 out of 4 people never make it. Will you?"