Ten Universities with the Highest Student Debt

Last week, Gawker ran an article citing the top ten traditional universities that have the highest student debt. The data was pulled by a recent study by the Department of Education, which actually revealed that the top three institutions with highest student debt are actually for-profit schools, which are often criticized for not leading to lucrative-enough careers. Controversial legislation has even been passed regarding this issue. What’s a for-profit college? Think DeVry and University of Pheonix. These schools offer a range of degrees (think X-ray technician certifications to master’s degrees) and are run by private, profit-seeking companies or groups, which makes them an easy target for public criticism. However, this list focused on the traditional institutions that rack up the most student debt, as a large part of the U.S.’s college-going culture seeks admission to these revered schools. It’s important to note that these prestigious universities, also, do not leave students’ wallets unscathed. [...]

Forgiving Debt, and Your Checkbook

In light of graduating season, there’s a buzz in the air among many recent grads about repaying student loans. Those heading straight to graduate school may have a few more years of deferment, but those leaving academia begin repaying loans right away. Among my circle of friends who attended both public and private schools, payments seem to be around $70-$200 per month. With a common student debt loan upwards of $10,000 (and that’s being conservative), repayment periods tend to span at least a decades. A decade after college, I’d like to own a home and have a family. Surely, I don’t want to still be making monthly payments for classes I took while still a teenager. Fortunately, it may not have to be that way. Several new developments have been sprouting up across the country geared toward forgiving student debt, exchanging volunteer hours for loan repayment and other like-minded initiatives. [...]