Borrowing Smart on student loans
I have 2 kids starting college next fall and am curious if anyone has a spreadsheet that compares the cost of borrowing for student loans versus the increase in post-graduate income? Basically showing the ROI of a college degree compared to the costs of borrowing.
This would be helpful having conversations with my kids about CLA concepts like the LAG of borrowing for a college education and the breakeven point on this debt.
I know this is a little outside of mortgage lending, yet it seems like a conversation our advisor partners are having with clients regularly and sharing this with them might be a helpful way to enroll them in understanding and using the Borrow Smart framework.
Thanks in advance!