This equation reveals how much you should borrow for college, Clayton Christensen Institute co-founder says. (via CNBCMakeIt)
that there's a simple way students can predict roughly how much they can afford to borrow for college.
It's a smart way to avoid taking on more debt than graduates will be able to handle paying back in the future. However, the average salary for a worker with a Bachelor of Social Work degree from New York University is about $50,008 per year, so based on Horn's recommendation, students should only take on about $7,501 in loans. Additionally, many social work opportunities require students to earn additional accreditation such as a master's degree, and students should consider these costs as well.
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