Yahoo Finance I’m a Self-Made Millionaire: Why I Don’t Regret Taking Out Student Loans
If you took out student loans to fund your higher education, how does it feel to reflect on this debt?
It’s not too surprising to hear that a significant percentage of American borrowers’ regret taking out student loans. In April 2024, The Boston Globe reported findings from their survey conducted by Emerson College Polling in partnership with the Globe Magazine. Results from the survey, which polled 6,000 New Englanders, revealed 52% of respondents regret their student loans.
Despite these survey results, not all borrowers regret their student debt. For Blair Huddy, self-made millionaire and founder and CEO at Hudson Davis Communications, taking out student loans allowed her to get her foot into doors where she might not have opportunities otherwise. Here’s her story of the career rewards she experienced because of student loan debt.
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Funding Undergrad and Graduate Degrees Via Student Loans
Huddy told GOBankingRates she borrowed about $48,000 for her undergraduate degree and $180,000 for her graduate degree.
After receiving a settlement from a severe car accident, Huddy was able to put the money towards paying off her undergrad debt. However, she said she still owes about $80,000 on her graduate loan. For this loan, she makes a monthly payment of $1,000.
“I have a standard repayment plan, so the amount doesn’t go up, but my schools both qualify me for borrower defense, so I will likely get discharged on the second loan,” Huddy said.
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‘I Wouldn’t Be Where I Am Today Without My Education’
As expensive as student loan debt is, many borrowers know it’s the kind of debt that acts as an investment in their future. Huddy isn’t sure she would be where she is today if she hadn’t borrowed student loans for the education and experience she currently has on her resume. It’s such an impressive resume that Huddy told GOBankingRates it often elicits compliments about her pedigree.
“The Trojan network is strong,” she said, referring to the degree she obtained at the University of Southern California (USC). “It gets me into rooms I don’t think I’d be in otherwise.”
And while Huddy said she didn’t experience true financial success until she started her own company, she might not have become a CEO without her degree. Student loans not only opened up doors for gaining experience and expertise, but doors also opened for meeting people that could help her advance in her career.
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This article originally appeared on GOBankingRates.com: I’m a Self-Made Millionaire: Why I Don’t Regret Taking Out Student Loans
