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Proof Positive It Pays to Avoid Expensive Colleges

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STUDENT GROANS
DailyFeed
Minyanville has provided extensive coverage on the pitfalls of expensive education and student loan debt. We've discussed how a corvette can cost less than college, how public universities outperform private ones, and just how desperate law students can become when facing a dearth of job opportunities.

But there's no clearer example of the benefits of enrolling into a smaller public college than this Northeastern University graduate's loan payment schedule.



Twenty-three years old, barely out of college, Kelli Space owed more than $200,000 in student loans for a friggin' undergraduate degree.

She told Gawker her horrifying predicament:

The severity of my situation goes a bit deeper than "I owe this money, help me" -- I am actually forced to live with my parents (forced = I am lucky! But...) as the monthly payments for just my private loans are currently $891 until Nov 2011 when they increase to $1600 per month for the following 20 years... attached is my payment plan. I also mentioned I have a job -- which is great! And I probably have my college education to thank for that! Except there is still no way to make these monthly payments, and live on my own as a contributing member of society. Neither of my parents, nor I, really knew how this would pan out -- unfortunately -- and now that I'm here, I see no real light at the end of the tunnel.

Aware of her situation, Ms. Space has begun soliciting donations at TwoHundredThou.com. To her credit, she assumes all the responsibility for enrolling into Northeastern and acquiring the debt, never intending to "pass my loans along to someone else and absolve myself of all responsibility." She is also aware of the worthier causes to support, but every little bit helps.

But for Ms. Space and the millions of other college graduated grappling with debt and too few job opportunities, it is an absolute crime that universities -- both public and private -- charge as much as they do for an education.

It's no wonder more and more people are actively opting for a life of ignorance.
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