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Deal with Your Debt: The Right Way to Manage Your Bill$ and Pay Off What You Owe by Liz Pulliam Weston

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Chapter 6. Student Loans

Americans are pretty well convinced about the value of a college education.

Three-quarters of those polled for The National Center for Public Policy and Higher Education believe a college education is more important today than it was 10 years ago. People know that low-skill jobs are disappearing rapidly thanks to advancing technology, changes in our economy, and increased outsourcing of jobs overseas. A college degree is no longer seen as a ladder up; it's a life raft in a stormy economic sea (see Table 6.1).

Table 6.1. Average Salaries for Those with College Degrees
Degree AttainedAverage Annual Pay
None$18,793
High school graduate$26,795
Bachelor's degree$50,623
Master's degree$63,592
PhD$85,675
Professional (law, medicine) ...

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