<p>I personally don’t think it’s essential to graduate debt free. I came out of school with a little over $20,000 in debt, and that was 30 years ago. When I advise a cheaper alternative is when a student is asking about a large amount of debt, especially for a school where I can’t see a discernible benefit. If a student is borrowing the Stafford limit ($27,000?), I think that’s pretty reasonable and often unavoidable. Much more than that can become problematic and start having a significant impact on your life choices.</p>