Topic: student loans

Interview: How Kelli Space Accrued $200,000 Of College Debt

Interview: How Kelli Space Accrued $200,000 Of College Debt

Yesterday, we learned about a recent Northeastern college graduate who is almost $200,000 in debt thanks to exorbitant student loans. We had a few questions. So we tracked down Kelli Space to explain exactly how things got so bad for her.

Kelli is currently soliciting funds on a website called twohundredthou.com, since her loans have ballooned to a point she does not think she will ever be able to pay.

As far as we can tell, she is actually a 2009 Northeastern graduate. So far, she’s raised about $2k. But mostly, we were curious to see how her debts had spiraled so badly in such a short time. Lots of people take out loans to go to college. And they don’t end up with this much debt (especially just for undergrad.) More »

College Debt: Is It Worth It?

College Debt: Is It Worth It?

College debt is a growing problem in America. As we learned this month, outstanding student loans now outpace credit card debt. And one of the growing numbers of college debtors has taken to Tumblr to get some help with her money woes. Kelli Space, who appears to be the 23 year old Northeastern University graduate behind 20ThousandTho.com, apparently has over $190,000 in debt from her four year college experience.

If the story is true, it’s a staggering amount of debt for an undergraduate degree. And clearly, there were some bad choices that led to it. But at the same time, with colleges getting more expensive – and post graduate jobs seeming fewer and further between – this is increasingly a problem for college graduates. Even if this story isn’t true, lots of kids are going to expensive schools with no immediate plans to make a big salary upon graduation. So the question is this: Is attending a school you can’t afford worth the debt? More »

Kids, Stop Dropping Out of College Just Because Kanye Told You to

Kids, Stop Dropping Out of College Just Because Kanye Told You to

You college students are so selfish, you know that? Just because you don’t want to end up paying back your student loans for the rest of your life while causing your parents massive amounts of debt is no reason to just up and quit school the middle of first semester! What, you think you can just teach yourself an English degree and get a prestigious job blogging without a piece of paper saying you spent four years some place where your f*cklist may or may not be the biggest contribution to your university?

Did you even stop to think what it’s costing the rest of America to send you to college?! More »