On average, AU students graduate with $19,000 in debt - near the national average of $20,000. It is a credit to this university's financial aid system that we are under the national average for college debt, especially when one factors in AU's sticker price.
But $19,000 still isn't spare change. We can only hope that an AU degree will help us pull in big bucks after graduation and enable us to pay off our student loans and then quickly get back into debt for more fulfilling things, such as expensive cars that we can't afford. The Princeton Review ranked AU's career placement services as the 18th-best in the nation this year. With the help of these services, as well as a vibrant job market in the surrounding area, a good-paying job - and that sweet car - is possible. Even then, the payment of all $19,000 in student loans will surely be a drain on a graduate's finances for years to come.
It seems that this debt is a necessary by-product of our competitive college system. Students at private universities had cheaper options available when they chose to opt for a private education over a public university. Even though a state's university system is still more expensive than some of our European counterparts systems, for the most part they offer solid educations for less money than private universities. This interplay between cheaper state universities and more expensive private institutions keep American colleges globally competitive.
The best advice for students is to save as much money as possible during their college years. Every bit of money you can divert away from alcohol - or whatever else it is you splurge on - towards your student loan will pay off in the future. Another good move would be to get yourself a part-time job so you can make a little extra money and come out of college in good financial standing. Save carefully and you can graduate college and move on to a job you enjoy, rather than one that just makes you money. Here at AU, a politically active campus, many students make this choice anyway.
It's a simple lesson: save now, benefit later. Save now, and you can afford to hitchhike down to South America - or whatever you plan to do - after you graduate. The recent economic downturn means your student loans are bound to become more expensive. Offset them early and you can at least come out of college with a clean financial slate.
