With today’s economy, more and more students are taking out loans in order to pay for college. A recent article in the Huffington Post, points out why loans may not be the best way to invest in a college education. The article highlights the fact that unlike other types of loans (like a mortgage or a car loan), you can not sell of an asset if you suddenly fee like you have borrowed too much. Another point to consider is how you pay for the loan after graduation. It is difficult to know how much money is a manageable amount to borrow if you do not know what your income will be when it is time to begin paying off you loan.
If you have questions about financial aid, it is a good idea to start educating yourself now. Also, an educational consultant can help you figure out how to play the financial aid game as you go through your college admissions process.