Quite rightfully so, the four years (ideally) you spend at college studying for your academic qualification in the field you want to enter are dubbed the “best years of your life.” This is when we exist in somewhat of a bubble with the general rhetoric being that of some encouragement to enjoy the bubble while it lasts.
Unfortunately though when the bubble pops and you have to enter the workplace, if you’re a typical case then you’ll have to spend a good chunk of the next few years of your life paying back everything which had to do with your existence in your college bubble phase. The most obvious manifestation of this college debt is indeed student debt on a loan you likely took out to fund your studies, but it goes further than that.
The true cost of the best years of your life can and should be measured beyond just the finances in the form of the student debt you’ll have to pay off. The true cost of the best years of your life should be measured with the consideration of what you acquired as a factor of time and I’m obviously not talking about material possessions here.
How much of a hole you dig yourself into?
The universal promise attached to an academic qualification such as a college degree is that of a job waiting for you on the other end, from which the earnings you can first pay back all the student debt you racked up and then enjoy the fruits of your specialist labor. So naturally then it’s not too big a request of you to put a figure on the size of the hole you dug yourself into while you were in college, i.e. how much debt you will have to pay off.
Things get a bit complicated however because as you’ll know, with any loan it’s not a simple matter of paying back the exact amount you borrowed. There are some hefty interests to factor-in, which means that you’re probably going to take a bit longer than first anticipated or suggested to pay off your debt. Even if you didn’t spend a single penny of the entire year’s salary, the trend suggests that that still wouldn’t be enough to cover half of the typical tally an individual has to pay back in student debts.
Tools acquired while in college
Make no mistake about it – what you learn as part of your academic qualification during your college years is the primary goal, but perhaps even more so the qualification itself than the knowledge you possess. This is why it’s important to try and get the most out of your college years by way of the tools you equip yourself with because it is indeed that knowledge you’ve acquired which can help you pay off your debt quicker.
The value of what you learn and how you can deploy it to negate the primary costs of the best years of your life contributes positively to the true cost of the best years of your life, so if you’re lucky enough to have come across this blog and this post in particular before entering college, make sure to approach your endeavor with a view of getting the most value out of it. This value will come in handy later on in your fight-back against the debt you’ve racked up in the aftermath of enjoying the bubble known as the best years of your life.