In 2012 the average millennial graduated with $27,000 in student loans. According to a Forbes article, this is a 58 percent increase from grads in 2005 who amassed $17,233 of debt. So, how did I manage to avoid the millennial curse and graduate without loans? Don’t jump to the obvious conclusion. It wasn’t because Bank of Mom & Dad gave me a 100% loan and never sent the debt collector. I avoided Sallie Mae because I made my college selection based on finances.
In April of 2007 I thought my choice had been made. In fact, the deposit had already been sent to Wake Forest University. Wake Forest seemed perfect. Small enough a professor might actually know me, but big enough to have a football team and thriving Greek life system. Best of all, it was in North Carolina (my home state). It seemed like a college where I could live a traditional “American college experience.” Granted, this was coming from a girl who hadn’t lived in America since fifth grade.
Then, my dad called a meeting…
This story originally ran on the now defunct economag, read the original version of this story here.