Letter: Student loan debt is burden, not gift

Student loan debt is burden, not gift

Inspiring as it is to see that Mrs. McGregor will graduate soon, the Kaimin really dropped the ball on an important issue: the burden that student loans carry. $60,000 is a huge amount of money, considering the average college graduate in Montana has between $20,000 and $30,000 in debt. It could easily take someone like her more than a decade (if not longer) to pay off those loans. Government-backed loan programs are in trouble for this exact reason: people borrow too much for degrees that will yield too little and that could result in default. Ultimately this hurts taxpayers as we are the backers of government loans. Referencing Salary.com, the estimated starting median income in Missoula for someone with a social work degree is around $33,000 per year — that is before taxes and if you are lucky enough to find a job in Missoula. I was taught that educational debt is a burden, and if you decide to take it on, it better pay off.

David Steinbacher

Graduated 2009

B.S. Biology