A Lot of Debt, Thanks Northeastern

Back in November College Guide wrote of the strange and sad case of Kelli Space, the 23-year-old office manager who founds herself more than $190,000 in debt due to student loans. Space, who in 2005 earned her bachelor’s degree from Northeastern University, started a website to discuss her troubles and encourage others to contribute.

Well now, thanks to her diligent efforts, and the generosity of the American public, she’s raised more than $10,000. So now she owes like $170,000. I guess that’s progress.

According to Hamilton Nolan at Gawker:

Kelli… still owes $166K. At this rate she could pay off the entire amount with nothing but donations in a mere… eleven years! But it shouldn’t take that long, considering the payments she’s making with her own money. So if she were to pay it all off in a decade, which is very generous, hypothetically, and then she were to land a good job making the midpoint of typical sociology grad earnings—$47,500—then, just 15 years from now, she’ll be back to exactly where she would have been, financially, had she not attended college.

So, was it worth it?

Daniel Luzer

Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer