You may have noticed that the debate over whether a college degree is actually worth the cost has been heating up over the past decade.
As the cost of tuition, fees, room, board, textbooks, etc. grows year after year, many are finding it difficult to keep up (especially students and families from the working classes).
Undergraduate federal student loan debt has reached an average of $19,202. The graduate average is more than double that, and in Medicine it has reached $125,819. (*Source: FinAid.org)
When one considers that these averages are calculated using only Stafford and Perkins loan debt, it's rather chilling. The yearly limits placed on these loans are lower than the total costs of most colleges--and that's particularly true for private colleges. There is a growing demand for additional private sector loans, in addition to those offered by the government to supplement the shortcomings of federal, institutional, and state financial aid.
At the graduate level, the student is more likely to beat his/her debt to the grave...
I'm going to present two viewpoints on this subject. The first article can be found here. The opposing view can be found here.