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One other thing to consider is that student loans typically have a lower interest rate than other forms of debt.
My sister chose to go back and finish her bachelor's and then do a one year masters program at a fairly expensive private college in DC. Ten years later she still has 30 or 40k of debt on her teacher's salary. She could have gone back to UMD and had half the debt. For my master's, I took one or two online or night courses for about 4 years, and finished debt free.
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