Carl Richards, director of investor education for the BAM ALLIANCE, wrote about the tradeoff between getting a great education while incurring a great deal of debt for the NYTimes.com. Carl concluded:
“I had a conversation with several recent grads who hadn’t thought through how expensive college would prove to be and the impact of the debt on their lives. So when they asked what advice I’d offer to someone preparing to go to college, I suggested that the answer was in line with how we plan for the other parts of our financial futures: we need to start talking and asking questions about these things sooner rather than later.
Talking should lead to planning, and hopefully the process of planning will lead to making great decisions that are aligned with what we say is important to us.”