Updated:
Student loan costs
Re:
"Starting July 1, borrowing for college will cost a lot more," May 24
news story.
As The Post
pointed out in its article, today's college students can expect to pay much
higher interest rates after July 1. On top of that, the cost of a college
education has gone up 38 percent over the past decade (adjusted for inflation).
These two
factors alone emphasize why it's so important for students
not to drag a four-year degree out over five or even six
years. Each addition year adds another 25 percent to the cost of education.
Those in their
late teens, 20s and early 30s are not getting enough experiential knowledge of
the careers that they devote tens of thousands of dollars and years studying.
Instead, too much emphasis is being placed on academic knowledge.
If you are a
student who wants to save money at college, spend time working and/or
volunteering within the career you are interested in pursuing. Weekends or a
summer break spent immersed within a particular career will give you insight
whether it is the right career for you. A few days and weeks now may save you
from spending thousands of dollars and investing years of study into a career
that is truly not a good fit.
Jason C. Steinle, Evergreen