No college debt. Never finished college, but I paid off my student loans all three times I dropped out-- twice from working and once out of my Social Security pension.
The individual has a child who is in Law School and will graduate next may, I'm assuming the total student debt is then $300,000 for undergraduate and law school combined.
My daughter is in law school and tuition and books run about $45,000 a year and that doesn't include living expenses. Law School is 3-years.
I got thru school with a minimum of debt, and I have three kids who are going to be starting college every two years, so I'll have eight straight years of college, six of them with two kids. minimum. I expect at some point each kid will be getting a small loan, because I think having a little 'skin in the game' is important.
But for those who cant afford it, its pretty clear that the earnings from getting a four year degree over a lifetime are massively higher than no college, so I'd consider the debt to be an investment, not an expense. Of course, you dont have to blow your investment on the most expensive college you can find, but often the colleges that cost more will lead to much better opportunities, and therefore, better earning power and more importantly, better quality of life.
I've had 3 different jobs at different companies in the past year and a half. I thought the first was too low paying, so I spent a couple weeks applying to jobs in the Midwest, turned a few offers down and then moved to Chicago. Then I worked there for 6 months before getting sick of it and finding my current job. Got a substantial pay raise with each move.
... but it seems most people my age do that.
“Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes