Don’t Get into the College Loan Trap


A few simple steps can help you avoid student loan debt or reduce it to avoid getting in a trap.

Millions of families are preparing to take their college student off to college for an education but for most, it will also likely include the risky business of a college loan. 

College loans or student tuition loans are not a good idea for a number of reasons. 

One, they may not be worth what you receive in return. The numbers of people who are underemployed following their undergraduate or graduate degree is reported by a variety of sources to be in excess of 50%. That means their degree did not deliver the expected job results.  

Two, significant debt loads often thwart your ability to get on with your life. New graduates are reporting significant issues like delays in buying a home, pursing their life calling and starting a family because of their student loan burdens.

A few simple steps can help you avoid student loan debt or reduce it to avoid getting in a trap.

Attend a local community college for all your basics before transferring to the college of your choice. This can reduce the costs by as much as 50%.

Plan to graduate on time. Changing majors, stretching out your college experience to 5, 6, or 7 years may mean taking on more debt. Make your path as efficient as possible.

Invest in knowing yourself and selecting the right course of study. This will not only maximize the time you are in college or post high school training, but will lead to greater job satisfaction once you graduate.  I strongly recommend that every student thinking of college or about to enter it now should have a Career Direct assessment to know your unique gifts and talents, then pursue your education based on these insights. It will help you avoid the college debt trap. 


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