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  1. #1
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    College Debt/Money Question

    A couple friends and I were discussing college debt and the amount of money college kids have at graduation. Thought I would ask it here too.

    What is the average "net worth" of a college kid the day they graduate? Essentially, their savings $ and other assets - debt from college and purchases.

    We figured if you can come out of college even, meaning you have no debt and no money, or a dollar saved for every dollar of debt you would be doing better than most.

    Do you guys agree or disagree?



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    Re: College Debt/Money Question

    If you graduate from college with a positive net worth I'd say you're WAY ahead of the curve.


    I'd agree with you, but then we'd both be wrong.

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    Re: College Debt/Money Question

    Better than most? I'd say better than 90%



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    Re: College Debt/Money Question

    I agree. I would guess most college students end up with a negative net worth.



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    Re: College Debt/Money Question

    Quote Originally Posted by farminclone View Post
    A couple friends and I were discussing college debt and the amount of money college kids have at graduation. Thought I would ask it here too.

    What is the average "net worth" of a college kid the day they graduate? Essentially, their savings $ and other assets - debt from college and purchases.

    We figured if you can come out of college even, meaning you have no debt and no money, or a dollar saved for every dollar of debt you would be doing better than most.

    Do you guys agree or disagree?

    Probably right. I left with 14K in students loans, but between some investments and vehicle was a wash. The debt isn't the problem if you know how to manage that and your money.

    If your folks paid your college, mine didn't, then you should leave college with something positive.



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    Re: College Debt/Money Question

    I graduated last May with 17K in student loans (then again I didn't work my last three years during college and studied abroad, so that's ok with me). But If you can graduate with a positive net worth, and find a job in your field you are defiantly better off then 85-90 percent of graduates..



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    Re: College Debt/Money Question

    If you leave college with less debt than the starting salary of your first job out of school, then you'll end up fine. A $30,000 student loan means a different thing to teachers as it does a doctor.



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    Re: College Debt/Money Question

    Quote Originally Posted by BCClone View Post
    Probably right. I left with 14K in students loans, but between some investments and vehicle was a wash. The debt isn't the problem if you know how to manage that and your money.

    If your folks paid your college, mine didn't, then you should leave college with something positive.
    My thoughts as well. When I graduate in May I will have right about 26k in loans both student and 1k left on my fiance's ring. Add in almost 1k in savings, checking, etc. My car is supposedly worth 4k (doubt I could get 2k for it though)

    It's hard to say what the average is without doing a well run poll because so many people live out of their means these days or get help from family.



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    Re: College Debt/Money Question

    I didn't know that any people graduated from college with a positive net worth. Unless they were Thurston Howell the 4th.



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    Re: College Debt/Money Question

    Quote Originally Posted by Cydkar View Post
    I didn't know that any people graduated from college with a positive net worth. Unless they were Thurston Howell the 4th.
    I did it by joining the Guard, plus having plenty of scholarships. I had about $50 to my name until my first paycheck though.



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    Re: College Debt/Money Question

    Thanks for the replies. It is interesting seeing all the responses.

    I have been fortunate enough to have a good portion of my school paid for by my parents. I did work hard for them my whole life for no pay, but still feel like by them paying for most of my school I am ahead of the game. Very thankful for what they have done. The rest of my school is paid for by scholarships and money from me from working during the school year and doing internships over the summer.

    I have a load of respect for people that pay for every penny of their college. It is quite an accomplishment.



  12. #12
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    Re: College Debt/Money Question

    I made it through Iowa State financially by betting on sports. Keep in mind this was back when pinnacle still allowed US customers so I had the best book available.

    Also the college did have a local bookie back when I gambled in college as well. I did well for myself paying off an entire year of school gambling. Two years worth I had scholarships and the other year I worked to pay off my debt.

    Starting the real world debt free is the way to go and I highly recommend doing whatever is necessary with the exception of dealing drugs to make this happen.



  13. #13
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    Re: College Debt/Money Question

    I fortunately was one that was able to break even when I graduated and have now parlayed that into being able to pay for a two years of graduate tuition out of my paycheck which in turn will make my paychecks larger. Very, very fortunate.


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  14. #14
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    Re: College Debt/Money Question

    I'll be done in May with about $32,000 in debt but a $48,000 salary welcoming me to the real world and the option of not having to pay for housing anymore if I move in with my girlfriend. I could have saved myself a little bit by not putting a few grand into retirement but oh well.



  15. #15
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    Re: College Debt/Money Question

    Looking at my loan statement makes me nauseous. Paid my way through school with a small scholarship and the rest on loans.

    I wish I'd graduated with a positive net worth.



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