The 2006 Average Student Debt report is out and the winners are ...
The top 3 best states: Hawaii ($11,758), Utah ($12,807), and Kentucky ($15,406).
The bottom 3 worst: District of Columbia ($27,757), New Hampshire ($24,800), and Vermont ($24,839). This makes sense because the New England area has the highest tuition rates as well.
The national "average" yearly tuition in 2006 was right at $10,000. That's $40K for an "average" college education. Have your financial plan in order before approaching Sallie Mae. I know in my last post I said student loans "can" be considered good debt.
Still, having a realistic financial plan to pay off your student loan may be more important than getting a good enough SAT score to get into college in the first place. A wrong choice at such a tender young age entering school can financially ruin you for life.
There are many horror stories out there of people being in $100K+ debt because they under estimated the long term cost of their loans.
