Editor's Note: A new study suggests job prospects for this year's college graduates have improved slightly. That's a little bit of good news for students who now have to pay for that education. This week, our Alina Cho is looking into "The Cost of College." Today, she has the story of one young man who regrets his decision to go to a top-tier university.
(CNN) – For high school salutatorian Ryan Durosky, there was no question that he would go to his dream school, New York University. It's a name-brand school, but it cost him. Now, he's nearly $300,000 in debt, and he's not alone.
To be clear, Ryan does not blame NYU for his college debt, he blames himself for making the choice, and he believes the economic downturn played a role. He certainly did not expect to be laid off, especially so soon after graduation.
NYU tells CNN its advice for prospective students is to "plan ahead." College is an investment and people need to save for it. Also, they say, if you're in default on your student loans you should contact the lender and NYU's career center for help.