When one is considering his options for undergraduate and graduate degree programs, from the number of offers out there claiming it's completely possible and even easy to get the money you need for school, you would think this would not be a big issue in the American economy. However, too few of these would-be applicants are taking into serious consideration how they will manage the serious issue of student repayment for loans.
All that matters to loan-offering companies is to get students to commit to something NOW; they are not concerned about how the student is going to have to alter his life later on in order to deal with these financial commitments.
This strategy preys on students' tendency to be focused on what they are doing right then and now-- not what they will be doing 10 years from now when they will likely be struggling to make payments on their loans when they are also simultaneously trying to carve out a life for themselves in their new careers.
It might be a good idea to have on-campus (at the high school and college levels) advisors who are completely unbiased -as in, they have the student's best interests at heart, but they are not recruiters for the school, nor are they going to encourage students to use a particular loan service, whether or not it is affiliated with the school or degree program.
So much pressure these days has been placed on young people to attend a school which is famous and prestigious, where I have found that not many of the people with whom I work with on a daily basis consider themselves to be successful necessarily went to schools of such ostensible caliber. Often, an education is what you make of it; a student who attends Harvard but parties all the time is a lot less likely to be satisfied with his work and successful later in life than is a student who has gone to a state school and made the effort to go above and beyond what is expected of him.
Students should begin the school-selection process knowing exactly what it is they hope to gain by attending a particular school, and this is perhaps one area in which counseling could be useful. If it is found that the main reason for wanting to attend Harvard or Yale is the name of the school, perhaps less-expensive but equally-challenging schools could be suggested by the counselor.
In conclusion, the fact that students will someday be responsible for repaying their loans should play more of an important role in the selection of a college or university, as the burden of student repayment of loans is one thing already stressed-out twenty-somethings could really do without as they strive to find their place in the world and determine what is most important to them.
Student repayment for loans they have taking out for their educational expenses can vary greatly due to the lenders terms and agreement. To get more on how you can be aware of what you are paying and find the lowest amount you have to pay back then visit http://www.CollegeStudentLoans101.info. If its student loans, we have you covered!
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