In 1970, I returned to college after four years in the USAF.

[JT45242]

12. One thing in the financial literacy curriculum is overlooked: debt to projected income

The national curriculum for financial literacy gives a formula to use

The maximum amount of "good college debt" can be calculated

Debt should be less than or equal to 2 times the median starting salary for your major at your college. (Must have appropriate placement statistics, I forget what the cutoff was but it was something like 85-90% of graduates had jobs within 6 months). So that kills all debt to for profit college -- that is all bad.

So, if you want to be an engineer then you can take on more debt. If you to go a school with a name that will get you extra money in your major (ex. son when to Rose Hulman institute of Technology) you can take on more debt.

If you are going to be a schol teacher, it is easy to find the average starting salary in your state. Double it -- that is the maximum debt you can take.

If you are a philodophy, English, etc. major -- what minor will pay the bills.

Yes, the costs have risen greatly mostly because at state universities in the 1970s the cost went 70% to taxes and 30% to student and family. Now that percentage is closer to 20-25% taxes and 75-80% student and family. If we did not give huge tax breaks to corporations and the megawealthy, then college could be more affordable.

My kids looked at return on investment and job potential as being as important as location.