Student Loan Debt: What You Need to Know Before, During, and After College
In this solo episode, Darrin delivers a comprehensive and eye-opening breakdown of student loan debt — what it is, how it works, and the lifelong impact it can have if not handled strategically.
He explains the different types of loans (federal subsidized, unsubsidized, private) and offers his perspective on which to consider and which to avoid. Darrin shares how college tuition has doubled over the last 30–40 years, why debt spikes when students continue on to graduate school, and how these costs ripple into adulthood.
Listeners hear a real-world example of a friend who graduated with over $60,000 in student loan debt, and what lessons can be taken from their situation.
The episode also covers President Joe Biden’s student loan forgiveness program (as it stood in October 2022), the limitations of such relief, and Darrin’s honest take on whether college is worth the cost from a financial perspective.
Packed with statistics, relatable examples, and clear advice, this is a must-hear for anyone navigating the higher education decision-making process.
In this episode, you’ll learn:
- The main types of student loans and how they differ
- How to minimize debt through smart borrowing choices
- The historical rise in college tuition costs
- The compounding impact of graduate school debt
- A real-world example of a friend’s $60k loan burden
- The state of Biden’s loan forgiveness program (as of October 2022)
- Why debt should be weighed against potential career earnings
- Darrin’s honest opinion on the financial ROI of college
🧠 Stats Highlighted (as of October 2022):
- Average federal student loan debt per borrower: ~$37,000
- Graduate school borrowers averaging $60k–$100k in additional debt
- College tuition doubling since the 1980s–1990s
- National student loan debt total exceeding $1.7 trillion
📌 Note: Forgiveness program details reflect October 2022 status and may have changed since.
💡 Key Takeaways
- Know the type of loan you’re taking.
Subsidized loans cost less over time; private loans can carry higher risk. - College costs have skyrocketed.
Tuition has doubled in recent decades — plan for this before committing. - Graduate school can double your debt.
More education doesn’t always mean a proportionate salary increase. - Real debt stories teach real lessons.
A $60k loan balance isn’t unusual — but it can be avoided with planning. - Forgiveness programs aren’t a magic solution.
Policy can change; your plan should not depend on political outcomes.
College can be worth it — but only with financial strategy.
Align your borrowing with realistic career earning potential.
