I just paid $125 for a book for the summer session which lasts only six weeks. OMG!! If the cost of education gets any higher, I might consider going to work for Mayor McCheese. The cost of college is a constant discussion at my home, since my oldest is going into her third year, I'm going into my second, and the 17 year old has dreams of studying while lying on a beach in California. She also dropped the phrase 'law school' the other day. Clearly, she doesn't understand the phrase 'a quarter of a million dollars' either. That's a conservative estimate of what it will cost for undergrad and law school if she chooses to go to school out of state.
So, I tried to couch it in terms she could understand; disposable income. This girl likes to shop. The minute money goes into her high school checking account, it goes out. It's not strange at all to check the balance and see less than five dollars in the account. If she gets a job in law, how much disposable income will she have, once she starts paying back those sizable student loans?
The only time you should this kind of debt is when you're purchasing a home, someone in your family is deathly ill, or you own a business. I hope she understands this before she mortgages her future.