$100,000 in debt for a dream college?

You Can’t Always Get What You Want, writes a graduating senior at New York City’s elite Stuyvesant High. After earning top grades, test scores, etc., the well-rounded student got into three dream universities — but the financial-aid offers were meager. She’d have to borrow $100,000 over four years or ask her near-retirement-aged parents to drain their life savings.

. . .  I could either take on the debt for a brand-name school and pray to the deities of the job market that I’d get a job lucrative enough to pay it off (which is what many of my peers are doing, I learned), or I could graduate debt-free from a less prestigious school and hope that I’d get hired despite my not-nearly-as-impressive-but-decent undergraduate credentials.

She’s heading for a state university, where she plans to graduate at the top of her class with minimal debt, get a good job and start saving so her kids can go where ever they want.

She’s bitter about having to say no to her dream schools, but she’ll enjoy the freedom to do the work she wants. It’s no fun being a debt slave.

If your parents can’t afford private-college tuition, but are paying your state university bills, don’t whine about it, advises Ann Althouse. “The culture has truly tipped, with everyone feeling entitled to things they can’t pay for and assuming somebody else over there will pay somehow, some time.”

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