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Is $10,000 too much student loan debt (Master's degree)?
I am about to graduate with a Master's technology degree from a state university. I will end up with $10,000 in student loan debt when it's all over. Do you think that's too much?
Here are my degree details:
M.A. Educational Technology and Leadership
B.A. History
Also, I have been a Dean's List student for two straight years and my undergrad GPA is 3.69
2 Answers
- 8 years agoFavorite Answer
As a university professor I have the following advice for you in responding to this question:
1 - In general, statistics prove that you increase your potential long-run earning power with post-baccalaureate degrees
2 - The degree you provide is too general to provide earning power by sector, but in general here is the problem with technology - these businesses tend to be highly volatile because they are at the forefront of change (I recommend you look for a job with a stable tech company rather than a small one)
3 - You have a lot less debt than many others. However, it is still a significant amount and you should begin paying it back right away. I would also recommend looking into a class action lawsuit against the federal government for driving up the prices of tuition.
Unfortunately, politicians - including Mr. Obama - don't understand supply and demand and seem to think if you make it easier to get into college with easy loans and easier graduation requiremetns from high school and elimination of SAT/ACT scores, etc., you will guarantee that the costs of attending college will go up because more people will attend.
Finally, congratulations on attaining your degree. It is a testament to your hard work but please do not vote for demogogues who promise easy access to college when it is they who drove you - and millions and millions of other American students - into massive debt. Comical that the federal government cannot balance its budget so it works to force Americans to go under as well. What a sad state of affairs for this once greatest nation.
Source(s): My Ph.D. in Educational Leadership and four years teaching at the university/college level - Anonymous5 years ago
that's a particularly heavy debt load. merely shop in mind that individuals do stay on the earning you're able to need after subtracting your debt money. shop in mind that and you'd be ok. good success.