Maximizing Loans just to cover cost of Tuition
This topic seems to be one that is more and more prevalent now than when i wen to college. It seems that college tuition is growing at an astronimical rate, and I am curious as to if others arenoticing this, or just myself? And is this only in career colleges, or across public schools as well?
This is great advice, Sarah. You are right it is so easy for students to accumulate tremendous student loan debt while getting their degree.
I graduated from a public college 2 years ago and during my time that I was there, 5 years ( I switched majors and it took a little longer) Our tuition went up on average 7-8% each year including fees for parking and other admentities. It was outrageous and I am so grateful I graduated when I did, but now have mountains of student loans, federal and private loans. My advice to anyone and everyone, exhaust all federal loans and grants that you can. I was not educated on financial aid at my college and actually had a financial aid rep recommend private school loans for me....they are not as likely to work with you as federal loans are. Take it as your very very last option.
Tuition rates are going up, and they will probably continue to rise in upcoming years. This is due mostly to inflation and the rising cost of living.
Tuition rates are going up at very high rates for both Private and Public. There was a recent article containing the annual percentage rate of the increase across the board was 7%. That adds up quickly to higher loans without positions raising the pay scale for repayment.
At my school tuition rates are very reasonable and have not risen very much over the last 2 years.
