How Much Debt Is Too Much?
People typically assume college loans are an ok debt to carry. The rationale being, a college education pays for itself, because you will make much more money as a college graduate rather than only having your high school diploma or GED. But how much debt can a person have before he or she should start worrying? Well, the answer to that may well depend on the student's choice of major and career path.
The truth is, some professions pay very well straight out of college, and others do not; we all know this. With some majors, it's even difficult to get a job in that particular field. So, when you're thinking about adding to your current loans, keep that in mind. A business major may be able to afford more in loans than a sociology major.
Private lenders may be willing to bridge the gap between the amount of money you need (or want) and the funds that the government is willing to give you, but be careful because you will be paying that money back, sometimes over the course of many, many years.