General Studies Lounge

By Nick Perry
Seattle Times higher education reporter
10/5/2008

Tyson Hunter dresses sharply, works out most every day and can't wait to make his mark on the business world.

Hunter, 23, also happens to owe $152,000 in student loans, accumulated in four years at Boston University. He graduated last year with a bachelor's degree in business administration, and now earns $40,000 a year at a market-research company.

His loan payments soon will top $1,000 a month — the amount of a small mortgage, and about a third of his salary. If he makes the minimum payments, he will retire his student debt when he is 53 years old, having handed lenders some $300,000.

"Buying a house? That's not even in the 10-year goals," says Hunter, who has temporarily moved back into his mom's Bothell condo to reduce expenses. "The next two years are going to be crippling. Hopefully, after that, it won't be as crippling."

Read More