Has the U.S. failed? Or have we failed to educate people in personal financial matters?
An immigrant to the U.S., she took on $315k in debt for education (in good fields). Seems like a really good person who is now highly skilled too.
She attended Purdue (B.S., unsubsidized in-state tuition is about $10k/year, out of state almost $30k/year), NYU (BSN, MSN, expensive private university). The unsubsidized cost of attending NYU is about $85k/year including tuition, fees, living expenses. NYU is ranked as one of the best nursing programs in the nation, especially at the Masters level.
There were undoubtedly far less expensive education options available – Purdue (likely as an out of state student) and NYU are very expensive schools.
Some of us had to make economic choices. I lived at home for the first 2 years of college and rode my bicycle to the local state college; after 2 years, I transferred to a 4-year public university and paid in-state tuition (inflation adjusted tuition today is on par with what I paid when I attended). I had to pay 100% of tuition myself from savings (having worked and saved since age 10), and working while going to college. I did not attend “name” schools. I graduated without debt.
Many students want the benefit of attending a prestigious university such as NYU, with a 4-year cost of over $300,000 – and then want others who did not have the benefit of attending prestigious universities, to pay off debts that the student voluntarily chose to take on.
Looking back, I wish I could have attended a prestigious university and wish I could have had an international experience. I had none of that – but I did not take on debts either. I do not understand why I should pay off the debts of those who voluntarily took on those debts to obtain the benefits of prestigious education.
