One expert says -- before sending a student to college, the family should take a moment to consider the amount of debt which will pile up. Texas educational consultant Catherine Marrs says that expense should be balanced against the value of the college degree.
Sit down with the student and discuss the major expense.
“Then they look at the schools that either will give them good merit scholarship money for academics, or they need to consider alternatives,” she says, “such as community college for an associate's degree, and then transfer to a four-year college.”
Many students thought the government was about to forgive their outstanding loan debt, but Education Secretary Betsy DeVos has ended the directive from the Obama administration. Marrs says that was actually a good thing to do because students need to take responsibility for those loans.
“I think colleges should be doing more to help students understand how serious it is to take on college debt,” she says.