With interest that the grad school amount comes to $68,075 and this is after (e:terry) consolidated it and with me paying $566.92 per month till 2016.
Another friend of mine who doesn't even have an undergraduate degree makes about 3-4 times as much as I do. But what makes me even more crazy is thinking about all the rich people whose parents could afford to pay for their schooling. How am I supposed to compete with them. They now have all of their salaries to invest in things like a business and mortage/investments while I am going to end up paying about $700/month in student loans.
There's definitely a class system at work here, as well: Rich kids whose parents paid for their Ivy League educations start off their adult lives debt-free; the rest of us desperately trying to avoid middle-class poverty are stuck treading water.
Quoted from: The Case for Student Loan Amnesty
The poor also end up leaving school with little to no debt (at least if they went to UB). Colleges like to charge a lot so they can have huge research budgets and attract the top people in their fields. I think the Ivy Leagues and other very expensive schools are classist in that respect.