Wednesday, February 29, 2012

Are car loans, college loans so different?

http://www.washingtonpost.com/blogs/college-inc/post/are-car-loans-college-loans-so-different/2012/02/28/gIQAZxN4fR_blog.html

The average loan is $28,000 for a car, also lenders average 1.7 million new auto loans every month. Now college debt is about the debt of a new car after graduation. Although a 4-year degree averages $240,000 to $1,090,000 more lifetime earnings. As a car depreciates in value over time, the degree gains momentum in salary over time.

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