An excellent rule of thumb is to take out no more debt then you expect to earn in your first post college job. If you expect to earn $35,000 your first year you should not have $50,000 in student loan debt. This is a simple way to know if you have overextended yourself. Pass this on if you have a friend that can use this information.
Anthony is currently heading the Educator/403(b) Division at Ritholtz Wealth Management LLC. The goal of our division is to transform the way teachers save for retirement. For disclosure information please see here.