Student Loans Should Be
a Last Resort

Student loans are always communicated as financial aid by the colleges. This mind set contributes to crushing education loans for families.

“Some debts are fun when you are acquiring them, but none are fun when you set about retiring them” ~Ogden Nash

stress from student loans

As a parent I continue to be amazed at the solicitations for unlimited college loans my kids receive. Every advertiser speaks of quick approvals and removing the worry of paying now for any of your college related bills. In fact, I remember one creative message who trumpeted that you can even defer any private student loan payment until after graduation.

Not one talked about the financial pain and sacrifice necessary in repaying these education loans. Nor did any of these private student loan companies let students know the high cost of deferring payments.

Because of the permissive debt culture that permeates our schools and government millions of college students fall victim to irresponsible college lending practices.

Be absolutely sure you have exhausted ALL sources of free aid before considering utilizing college loans. Be sure to visit my free webinar for more insights on finding free money that you do not have to pay back.

Besides the strategies covered in my webinar the biggest influence you have in minimizing your need for college loans are:

  • Selecting a college you can afford.
  • Utilizing 1 + 3 or 2 + 2 transfer programs with community or state colleges.
  • Part-time work or work study during the school year and well paying summer jobs.
  • Knowing your course transfer options. Taking general educational requirements at a local community college over the summer for instance and transferring them back to your "home" college can save you thousands. Affordable on-line courses are growing in popularity.
  • Accelerating your degree program. There is ample room in most college curricula to complete your degree in less than 4 years. With the average degree taking 5.5 years remember the longer you are in school and not working in your field the more expense and loans you are going to have.

debt load from student loans

The Untold Dangers of College Debt

My colleagues have a great saying "There is only one thing worse than graduating with college loans and that is not graduating". No one thinks about not making your goal but the fact is 40% of college students don't graduate. Many of these have high levels of college loans. With job and earning prospects much more limited without a degree they have chosen a very difficult financial path to start their lives with.

Because uncollaterized college debt is so easy to obtain many students don't give careful thought how much their total cost (with interest) of college will actually be. Taking the time to really understand what their monthly payment will be and how long it will really take to repay their college loans is minimal.

The fact is that too many students end up with the equivalent of a mortgage payment that can last 10 to even 25 years impacts them the rest of their lives.

Check out this insightful first hand story of student loans. This gives a personal account of three college students and how high college loans impacted their lives.

minimizing student loans reminders

Have You Taken These Steps to Minimize Your College Loans?

I believe the easiest college loan to pay off is the one you never take out. Because of the lack of "truth in lending" practices you will want to visit this page. These practical steps helps you to be to be sure you are minimizing the amount you need to borrow for your degree goal.
Minimizing college loans

Ready to Compare College Loan Options?

Visit my student loan information page. Here I compare federal student loans, private education loans and parent plus loans.
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parents talking

What Clients Are Saying



“…without your involvement, we never would have thought to approach the college directly…. We got the documentation together to obtain residency, created letters to send and were granted residency which translated to $20,000 in savings.

THEN we went back and said, 'don’t take away her out-of-state scholarship just because she is now a resident' and got OSU to maintain the $7,000 scholarship".

"We would like to express our appreciation for the service that our daughter received.

She is our first child to go through the college application process, and it was very intimidating for our whole family. You were able to create a clear, understandable path for our daughter.

As a result of all of this hard work, our daughter was offered three presidential scholarships at various colleges, including a full tuition scholarship to a private college.

Thanks again, and we look forward to working with you on our son's upcoming college search."

"HWS presented an above average financial aid award, however, it included some work study. With your guidance, I went back and asked that the work study be converted to either grant or scholarship to relieve the financial burden while allowing my daughter to focus on academics.

They came back with the conversion AND continued to keep her eligible for an equal amount of money through work study."