Guys, I did it! I’m finally above average!
im suprised the average is so low. I wonder if thats because there are a bunch who only took out small loans???
It’s really only undergrad that’s usually uber expensive. My wife is getting her master’s for like $10k/year and her company is paying for half of it.
Meanwhile our undergrad was like $40-50k/year with no help.
Also this average is probably averaging current balances, not total disbursement.
Unless your graduate school is medical or law school. I’m taking out around $90k per year for medical school for tuition and living expenses.
I wonder how much of this 1.6 trillion is just interest that the banks charge on the actual loan.
Another good question would be how much of that debt’s interest is being subsidized by the government?