How does $55,000+ in debt happen? A nice chunk of it came from Student Loans.
Ah, Student loans. Such a sweet thing. A young 19 year old college student is given a check for $5,000. Do you know what you can buy with $5,000? A lot of clothes, makeup, dinners out, DVDs, trips to the movie theater, and a little bit of education. Did I mention that it was $5,000 per Semester? Yes. Per semester. "Poor College Student" what the heck does that mean? I for one didn't have a clue. I drove a 3 year old Honda Accord, got my hair done, loved my manis and pedis. Enjoyed going out to dinner and making frequent trips to the Mall. Of course I worked. I wasn't that stupid. My paycheck paid for that trip to San Francisco, St Louis, and the $80 skirt that made me look so dang hot. Oh yeah- I didn't work full time, I was going to school full time, silly.
One more thing. . . did I mention that I went to a State College who's tuition was around $1500 a semester? I graduated though. My Bachelor's degree from a State College costs me $36,991.99 and counting.