The Student Loan Entrance Counseling Process

Many students do not know what they are paying for or understand how student loans work, and are not fully aware of available resources. For assistance, most students know to go to financial aid, however “financial aid offices allow students to borrow thousands of dollars with several mouse clicks on online portals” (Farrington). Many students are not properly informed of their options, such as the many scholarships available to them, but simply take only what is shown to them. Easy access to loans is a slippery slope and many students fall into holes that they

For many, student loans are the only way to finance one’s education. Paying out of pocket simply isn’t a reality for most, so they rely on state and national government to provide them the funds to attend school, buy textbooks, and even pay for room and board. Sign on the dotted line, and suddenly a subsidized or unsubsidized loan shows up as a credit on your student account. Any overage is paid to you by check to cover

With the ever-increasing tuition and ever-tighten federal student aid, the number of students relying on student loan to fund a college education hits a historical peak. According to a survey conducted by an independent and nonprofit organization, two-thirds of college seniors graduated with loans in 2010, and each of them carried an average of $25,250 in debt. (Reed et. al., par. 2). My research question will focus on the profound effect of education debt on American college graduates’ lives, and my thesis statement will concentrate on the view that the education policymakers should improve financial aid programs and minimize the risks and adverse consequences of student loan borrowing.

In addition to my experience in advising and student affairs, I have also worked as a professional in financial aid for the past eight years. During my time in financial aid I have seen first-hand the challenges students face with the cost of obtaining a higher education degree. My role in financial aid has evolved over my career while exploring the theoretical

Financial support has played an important role for college students, especially for university students, whose family could not support their education after they have graduated from high school. Due to this situation, students have to go through a lot of problems with their tuition fees to be able to continue with their education. They always need a large amount of money besides paying for the tuition but also for living, and students have to go through a lot of problems with their tuition fees in order to be able to finish their career on time and earn a better living in the future. Some students will choose to go to work part time while at school, so they can pay for their fees and their own expense, such as gas, foods, and clothing. On the other hand, most of students will choose to take out loans from somewhere else, such as the bank or federal loans. This way, students who choose to take out a loan could focus on their education without worrying about how to pay for their fees. It is very important for students to acknowledges and be aware of the different types of student loans, and all the requirements before students decide to obtain a loan. Because of the raise in tuition leads to the existence of the student loan debt is a burden that is a financial impact on lifestyle changes, such as postpone couples to get married, to have children, to buy a house and to save for retirement.

Going to college may get students an education, but may cause their parents or legal guardians to lose everything they have worked for in the process. While trying to stay up to date with their student loans, they may fall behind on all their other bills. You may even lose your home because “you cannot make your mortgage payments for fear of missing a student loan payment or two” (Beauchamp and Cooper 539). They apply so much pressure on how it is important to pay off your loans that “you struggle to make your car

Increasingly, in the United States it is not uncommon for an individual to apply for student loans, and attend a

The student loan debt total was about nine hundred and two million dollars to one trillion dollars in the United States in 2012; the federal student loan debt made up about eight hundred and sixty-four billion dollars of the total debt (Driscoll and Clapp). Many people in the United States that cannot afford college tuition and additional fees take student loans and/or federal grants. Student loans are different from federal grants in that the loans have to be paid back with interest, while federal grants do not have to be paid back. A federal grant is also known as financial aid. Students with lower income are less likely to attend college because of student loan debts. The government does provide some help, however, there are limits

A decade ago, student loans barely existed. Today, however, American students borrow up to couple million dollars a year to attend college. An entire generation is burdened with debt, and affected by the modern phenomena known as the “student debt crisis.” In recent years, student loan borrowing rates have risen notably, leading to concern about the public financial risks associated with the financial challenges faced by many students. Of late, the United States government has given out about $170 billion in financial aid annually in an effort to encourage students to attend postsecondary education. Such funding are usually supported by research that consistently finds positive and growing average economic benefits of

In the U.S. students are encouraged to earn a college degree, but the cost of an education turns many away. “Driven by the allure of a decent salary with a college degree, Americans borrowed to go to school. Outstanding student debt doubled from 2005 to 2010, and by 2012 total student debt in the U.S. economy surpassed $1 trillion” (Mian, Sufi 167). There are plenty of opportunities to obtain funds for college, including one of the most common, student loans. A student loan is defined as “a common way to fund education, specifically college and graduate school, and they provide educational opportunities that you otherwise may not be able to afford” (Barr). Student debt is at an all-time high in America. Over half of all lower income

As Young teenagers become adults and start College, one issue that doesn’t seem as a big deal at the moment for many students are student loans. Young college students who don’t have the money, don’t have enough scholarship money, or family who doesn’t have the money to pay, will apply for student loans each year. They amount the student receives can vary depending on the college and what the student has achieved academically. Though interest rates are low with subsidized being 4.29% and unsubsidized being 5.84% ("Federal Student Aid" Interest rates and Fees), student loans still have a huge effect on college students once they graduate. One college graduate’s story helps explain the struggles for most students:

Many students are uneducated about student loans. When I say uneducated I mean that they have no idea what type of loan is best for them, how much they need to borrow, or where to get the loan. There are many resources out there about student loans, but there are not any requirements to review them before taking out a loan. Students are not required to have any knowledge about how the loans work. Students need to have the correct knowledge when applying for a loan, otherwise they may end up with too much debt or the wrong type of loan. A student should not start off their life outside of college in unnecessary debt.

Financial support has played an important role for college students, especially for university students, whose family could not support their education after they have graduated from high school. Due to this situation, students have to go through a lot of problems with their tuition fees to be able to continue with their education. They always need a large amount of money besides paying for the tuition but also for living, and students have to go through a lot of problems with their tuition fees in order to be able to finish their career on time and earn a better living in the future. Some students will choose to go to work part time while at school, so they can pay for their fees and their own expense, such as gas, foods, and clothing. On the other hand, most of students will choose to take out loans from somewhere else, such as the bank or federal loans. This way, students who choose to take out a loan could focus on their education without worrying about how to pay for their fees. It is very important for students to acknowledges and be aware of the different types of student loans, and all the requirements before students decide to obtain a loan. Because of the raise in tuition leads to the existence of the student loan debt is a burden that is a financial impact on lifestyle changes, such as postpone couples to get married, to have children, to buy a house and to save for retirement.

The Department of Education in recent times has embraced a new system regarding student loans, bringing on board a customer-friendly policy. According to this new scheme, students will now have access to loans with easier and less complex repayment terms. This development will help them fast-track the repayment of their debts without hassles. The Department of Education also integrated an income-based repayment plan: a flexible approach geared at facilitating student finance in their most dire hour of need. Sadly, despite having the potentials to substantially pull off the amount of burden on people’s shoulders, this income-driven repayment scheme hasn’t gained much traction and acceptability among the general population. This is due to

Student have debts one way or the other by continuing their education after high school and the student are pressure by their parents or at the counselor’s office in high school to get a degree. The only way is by college they say, but some student can’t afford it up front and need financial aid to help out. Here is when the student get in trouble by signing the application before they read the terms and conduction what they just sign. Some student think they will find a good job and not worry, because they know they can afford paying the loan back. Lot of employers are looking for experience to quantify for that job. When they have a degree after they finish school and seek for a job and find out they are over quantify or under quantify for that job and there is no way to pay for the student loan at a minimum job or no job at all and seeking for a solution help for the student loan. Some seek a default on the loan and don’t want that in your history records there is a better solution and it a student loan forgiveness. The solution to the problem with student loan debt is to be educated about which loans are best out there. Choice the best one for your situation. Student don’t have to get in debt, because there is other ways to pay for college, like going part-time to college and have a full time job. Some company will pay for you college. Be wise before you sign the loan document and read the terms and conditions.