Many families end up asking themselves, if they would be able to afford college expenses for their children! Many students perusing higher education, and professional degrees have to pay ridiculously huge amounts of tuitions and fees. As most students can’t afford these prices, they have to undertake student loans. Most professional students today are deep into mortgage-sized loans to cover their education expenses. The federal student loan debt in the U.S. has ballooned up to $864 billion dollars (Johnson et al.). This amount of debt has surpassed all American credit card, and auto loans combined and is only seconded by mortgages (Fridman).
