When some kids are in college, all they it’s that your student loan bills will roll in regardless of how much you earn.. It doesn’t help that college counselors and parents consistently urge them on with that future cash-cow job in mind.
Who cares if you borrow a lot for college if you’ll be earning six figures in a few years, right? Wrong. Unfortunately, those high-paying jobs don’t always pan out like you think they will. But if there’s one thing you can count on once you graduate, it’s that your student loan bills will roll in regardless of how much you earn.
This scenario describes what happened to Andy Josuweit of Because he expected to earn around $80,000 per year after school, he borrowed money without a care in the world. But once he graduated with $74,000 in debt and no high-paying job, he quickly realized that reality wasn’t going to meet expectations.
“Quickly, my student debt hole grew deeper,” he says, adding that, because he defaulted on some of his loans, his total debt loan surged up over $100,000 in a hurry.
