The College Debt Trap By Janet Bodnar
Some college students have to pay thousands of dollars in student loan debt that catches up to them years after they have graduated. Bodnar outlines steps that parents and students can use to avoid falling into the college debt trap. Things like saving money, borrowing smart, choosing schools strategically, and thinking outside of the box, can help parents and students in the long …show more content…
Counselors, teachers, coaches, or maybe even parents recommend different ways of paying for college, but the things that worked for them may not work for the future students all over the world.
Janet Bodnar gives a variety of different ways of preventing student loan debt throughout her article. She supports her ideas with different financial examples like financial aid, choosing schools strategically, saving money, etc. Parents can start saving money for their future college students at any time. It is never too soon or late to start saving money for an education. There are insurance plans out there, like Gerber Life, that focus on the future life of children. Bank accounts can also be set up specifically for college. There should be no excuse on why money could not be saved up for a child’s future. Some parents are not straight forward with their children, but they should be. If a parent cannot afford to send their child to an out of state college, or a prestigious college like Harvard, they should just let their child know. An adolescent does not have to go to an out of state college or a prestigious college to get the …show more content…
There are questions like: how long do they have to be part of the military, are there only a certain branches that will pay for college educations, will they have to be in active duty, etc.? More detail and examples were needed in this article, but other than that the article is very useful.
It does not take as much time to prevent student loan debt as it does to get out of it.
Teenagers can be easily be trapped into the student loan debt. Student loan can easily be avoided with a few easy steps. Bodnar explains a different variety of ways to avoid college debt like: saving, thinking outside of the box, borrowing smart, etc. There were several useful ways, but there was an important step missing. Financial aid is a very helpful way on avoiding student loan debt. There are classes on how financial aid helpful and is used offered at high schools. There are some students that feel they have to go to out of state colleges and prestigious to get the best education there is, but it is not at all true. The best education for you can be right around the corner. Whether it is a community college or a university, the best education for you does