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July 19, 2011 6:12 PM
A Lot of Debt, Thanks Northeastern
Back in November College Guide wrote of the strange and sad case of Kelli Space, the 23-year-old office manager who founds herself more than $190,000 in debt due to student loans. Space, who in 2005 earned her bachelor’s degree from Northeastern University, started a website to discuss her troubles and encourage others to contribute.
Well now, thanks to her diligent efforts, and the generosity of the American public, she’s raised more than $10,000. So now she owes like $170,000. I guess that’s progress.
According to Hamilton Nolan at Gawker:
Kelli… still owes $166K. At this rate she could pay off the entire amount with nothing but donations in a mere… eleven years! But it shouldn’t take that long, considering the payments she’s making with her own money. So if she were to pay it all off in a decade, which is very generous, hypothetically, and then she were to land a good job making the midpoint of typical sociology grad earnings—$47,500—then, just 15 years from now, she’ll be back to exactly where she would have been, financially, had she not attended college.
So, was it worth it?
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