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In these ten towns, a university generates intellectual and cultural sizzle for local residents and opens the door for retirees to take free or low-cost classes. But, college life isn’t the only reason these towns are great places to retire.
Listen up: Many new grads make the mistake of thinking, I’m living paycheck to paycheck. I don’t have money to put aside. Or they think they need to make more money before they have enough to start saving. But that never works.
Among graduates of the class of 2012 who borrowed, the average debt is $29,400—not a crippling amount, but no easy lift, either. Many graduates have a mix of federal loans at a variety of interest rates (federal Direct Loans, the most widely available, carried a 3.86% rate for the 2013–14 school year), and some borrowers also have private loans with variable rates as high as 11%. You can pick a repayment plan that fits your finances; if your circumstances change, you can always change the plan.