| Colleges aren't generous with their financial aid | | | | A much better way of addressing the situation would |
| anymore this year (if "generous" could ever be the | | | | be to exhaust other financing options as far as they |
| word for it), families are less able to make up the | | | | will go first. It might seem tempting to not "skimp on |
| difference, and students are lining up at student loan | | | | your education" as you can tell yourself that it is an |
| centers more than ever before for their full quota of | | | | "investment in your future". However, most 17 or 18 |
| student loan debt misery. On average, students | | | | year olds who sign up for college really have no idea |
| enrolled at public colleges end up borrowing something | | | | what it is they will eventually be working at in life. Could |
| in the region of $20,000 a year, and their friends over | | | | it really be a great investment, if two out of three |
| at private colleges borrow about $25,000 each year. | | | | times, students find they pick an unrelated career later |
| The government does realize that for what should be | | | | on? It's important to first find yourself, and bounce |
| a basic right such as higher education, students are | | | | around working and saving, perhaps living with your |
| having to dig themselves into impossibly deep holes; a | | | | parents, taking free courses at places like MIT's Open |
| new law that passed less than a year ago, called the | | | | Courseware, to see what it is you really want, before |
| income-based repayment program, brings a little sanity | | | | plunking down $100,000 of everyone's hard earned |
| into the picture, by letting people repay their student | | | | cash, yours included. Your college expenses may |
| loans not in keeping with some standard monthly | | | | certainly be an investment in the future. But judging by |
| installment plan, but in conjunction with what they | | | | the number of walking wounded with crushing student |
| actually make working after they graduate from | | | | loan debt, doing without could be considered an |
| college. How should students understand student loan | | | | investment in your future peace of mind just the same. |
| debt? How much is too much? If you could go to a | | | | In fact, you could have it both ways - save on fees |
| top-flight college, but you would have to carry twice as | | | | and expenses, and still not give up on going to that |
| much student loan debt, should you just turn your back | | | | top-flight college. You could work harder to finish your |
| on it because you can't afford it? | | | | degree sooner. There are many ways to do this. First, |
| Some do believe this. They say that colleges can | | | | you could supplement your college class hours with |
| often claim to be much better than the competition, but | | | | online classes or summer classes. If you go to a |
| really, what is it that they offer, they ask, for all the | | | | two-year college first, and then apply to be transferred |
| additional burden you carry to pay them? It would bring | | | | to your dream college, that'll save on paying the high |
| a little sense into the proceedings if a better school | | | | costs of three years of regular college. You'll be paying |
| actually helped you land a job that should help with the | | | | cheaper rates for two years, but you'll end up with a |
| additional student loan debt burden. | | | | degree from the college of your choice. |