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Do high school grads consider the cost of college?
A recent survey found half of all high school students don't know how much money they'll need to pay for college. Even more don't know how long they will need to pay them off or the loan's total cost. With the number of debtors and delinquents on the way up we quizzed local high school students to see if they are checking their math..
College graduates are still doing their homework, subtracting student loans from what they earn.
"Really the best thing to do is to not take out more than, the rule of thumb is, more than your first year income," said Dr. Dean Skarlis, College Advisor of New York.
Most Capital Region high-school seniors will be leaving the halls of their schools and taking up books at college soon. They've already started to look at the books to figure out how to pay for it.
"I don't want to be paying for this stuff until im sixty years old," said Samantha Byron, a senior at Shenendehowa High School. "I want to be able to go out and do everything and have the money to do it."
Rory McGuire wants to study biology at Cornell. He'll save money at community college first. Ali Hashimee is going to RPI.
"I have a job now but if you think about it, a $60,000 a year school and a part-time job in high school it's not going to help you pay for college," said Ali Hashimee.
"That's a huge expense for any family, whatever your income," Skarlis said. "So I think colleges are going to need to sit back and think how they're going to do what they're doing or deliver education in a more cost-effective way."
They all want jobs right after graduation, especially if their course load continues after undergrad.
"Hopefully I'll try to get a job that entails possibly the employer paying for some of my graduate school which would help a lot but otherwise I'm going to have to start saving immediately," said James Elessi.
Schools will have to crunch their own numbers as more kids think about the money before choosing the right one.
There is some good news for college graduates according to a recent survey. According to the National Association of Colleges and Employers, average starting salaries for new grads went up over five percent from last year. The survey puts the number at $44,928 in it's first look at 2013 salaries. Last year it was $42,666.
The biggest salary gains went to the health sciences and business fields.
Also: Years later, still paying student debt