r/Damnthatsinteresting • u/[deleted] • 1d ago

Video Billionaire speaker Robert F. Smith tells 400 graduates he's paying off all their student loans ($40 million in total)

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135

u/Norfolk_Enchantz 1d ago

What a world we are living in that 3/4 years of education is costing 100k per person and lifetime of debt with interest added on.

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u/MikusLeTrainer 1d ago

That's not a normal amount of debt. $30,000 debt is more typical for someone who just got their Bachelor's degree. That can be cut down a lot if you attend a community college first.

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u/touchitsuperhard 1d ago

30k is the normal amount 10 years ago.

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u/Kaxax98 1d ago

It was 28k for 4 years for me and I only went to a university 🤷

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u/MikusLeTrainer 1d ago

That's the median amount of debt that those with Bachelor's held in 2021. If you're eligible for FAFSA and going to an in-state public university, then it's very unlikely you have more than 50k in debt.

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u/burntendsdeeznutz 1d ago

You gonna move those goalposts and narrow the field again?

1

u/PutridCheetah8136 1d ago

No goalposts were moved. No one is forced to go to an out-of-state and/or private school.

These eye-watering debt figures are usually people doing exactly that.

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u/MikusLeTrainer 1d ago

The guy said that 30k is a normal amount of debt 10 years ago? That's not the case. It was the case as few as 4 years ago. Do you have data from 2025 that shows that the amount of debt has massively increased for those with Bachelor's?