For the rest of us, college is still affordable

[circuitrider]

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I think what has changed is that more parents feel the need to pay for their kids’ college education and they themselves have taken on more debt, which is not included in the above numbers. Just one example from some friends–they have taken on over $80,000 in loans for their 2 kids so their kids could go to their dream schools. They had other, less expensive options that would not require them to take any debt. No idea why they went that route but back in our day, that would NOT have happened.

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<p>It’s a risky gambit, but not without some logic. A generation ago, parents were not so worried about saving for retirement, especially if they had seniority at a Fortune 500 company and a healthy pension waiting for them. Nowadays, no one has half a million dollars sitting in a portfolio available for discretinary spending. Those days are gone. Hence, the need to take out loans.</p>