<p>One rule of thumb I have heard is that a student should NOT EVEN THINK ABOUT graduating with a total debt load greater than a year’s salary for a new college graduate with the major the student is pursuing. In today’s economy, in recession, one shouldn’t be overoptimistic about predicting a steady salary–or even employment–after college, so that had better be a pretty fine college offering a very lucrative major to warrant much debt. $30,000 per year is definitely more than I would suggest borrowing.</p>