New York May Offer Free Tuition Soon

[sanantone]

They applied to state schools not private colleges. It still costs $100K to get a 4 year degree at SUNY colleges if you live on campus and maybe slightly less if you live off campus. 

Both of these young adults will be paying off loans for decades. The one will probably be better off than the other as one went for Engineering while the other ended up finishing up a degree in psychology. He prefers F2F courses over taking tests. 

The engineering student got some scholarships but still has a large student loan debt. The other one didn't get scholarships as far as I know.

Sorry, but I'm not buying that a substantial number of SUNY students are going $100k in debt. Take Buffalo State College, for example. On average, students take out less than $7,000 a year in loans. 

https://www.collegefactual.com/colleges/...loan-debt/

I'm also not buying that business, education, and psychology programs are hard to find.

It might be true that the average student loan is $7K but that is including all the students on PELL and other financial aid/scholarships. Not everyone is lucky enough to get that level of financial support! And I know many that do that don't get the academic supports they need as first generation college students that drop out because the colleges only care about getting them admitted, not ensuring they make it to graduation!  I know because I've seen it first hand Yet they'll whine about losing students and their stats, and play dumb about why so many students don't make it and drop out. .  PS- I never said that business, education or psychology degrees were hard to find. I was stating the exact opposite. I was using those as examples, because you can find them practically at ever college!!!   PS2- It still doesn't make any sense that student loan rates are higher than auto loans and mortgage rates!!!

I misread the majors part. 

How much your auto and home loan interest rates are depends on your credit. When I was younger and didn't have a cosigner, I think I had an 18% interest rate on an auto loan.

We'll have to agree to disagree on the student loan rates plus the fact that not all students can actually get financial aid assistance as well as not end up in debt after doing all they can to get a bachelor degree even at state college campuses....

Only a third of college students receive the Pell Grant. 

https://trends.collegeboard.org/student-...-over-time

Still, it is relatively rare for anyone to go $100k in debt for an undergraduate degree. I'm talking about stats rather than anecdotes. The media has given so much attention to students going $100k in debt, people erroneously believe this is the norm. People who go $100k in debt for undergraduate degrees are outliers. A majority of undergraduate students won't even go $50k in debt.  

https://www.brookings.edu/wp-content/upl...lances.pdf