You're right on - or are you?

I have a friend who finished at Princeton in 1998, just a year off of your imaginary scenario. He majored in the liberal arts and wanted to teach high school. He's since done that, but he was suckered into accepting loans for nearly the entire cost of his education (as you know, Princeton's now free if you can't pay, but it wasn't then and they didn't grandfather anyone in). So he finished at Princeton owing over $100,000. Think about that horrible figure. He took a job teaching in Staten Island where he was making a difference, but quickly found it was almost impossible to cover rent, food, and the rest, let alone think about saving for retirement. He's slowly making a dent in that loan but I don't see how he'll pay it off before he's 50, at a minimum. Scary stuff. Was it worth it?

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