Why Graduate?

When I talk to older students on the verge of graduation from college, or even those who have recently graduated, it seems the only advice I get from these people are to stay in school as long as possible. The real world sucks, and given the current state of the economy, there is no hurry to be looking for a professional job. So it gets me thinking, why try and push through all these classes in four years just to get screwed in the real world. I have seriously thought spending an extra year or so in college, that is until I look at the type of debt I would be left with.

On average, students will be graduating with an average of $20,000 in debt, which will ultimately establish that oh so important "credit history".

As a student at Santa Clara University, where tuition alone costs about $45,000, debt is something that I am going to have live with. So much for the dream of staying safe in college for an additional year.

My Deep Thoughts on Debt

I am very grateful to have parents who support me in whatever I choose to do. They are paying for my tuition at Santa Clara University, as well as my brother's at the University of Oregon. I babysit a few times a week and make good spending money, but my parents are paying for pretty much everything. I know that after graduation I will do what I can to pay them back for the loans they have taken out.

Debt is a word I try not to use. I have an internship with Target this summer and I hope to work there after graduation. I am lucky to have a job lined up while many are suffering in these tough economic times. I didn't realize that going to a private university would cost my parents so much. After freshman year, I moved off campus to save some money. I have a slight problem with saving money, so I'm trying to work on that. I had to open a savings account and I force myself to put in $10 a week, its all about making little changes.

Right now I don't feel too worried about the future, but after reading this article about other college students and recent grads, I'm a little nervous about paying off the loans. I was planning on moving back to San Francisco to live in an apartment, but we'll see if my budget allows me to do that.

What kind of car could your tuition buy you?

Could the economy be affecting students' choice in college? Seems like it. According to an article by neighbor school San Jose State's newspaper, the California State University system has already received approx. 50,000 applications thus far, a 21% increase from last year. According to the CSU website, in-state tuition for SJSU, including all fees, room & boards, books, etc. is roughly $20,000, while the cost to attend Santa Clara University is roughly $50,000.

Update with Santa Clara application numbers to follow soon...