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Student loans just got worse

It just got worse

College Bill

College Bill

Financial aid just bottomed out, and is no longer a solution for students.  Why, because the essential elements that made it useable by students are being yanked by the government.  The interest rate will go back up, even after the mandated stay.  But worse is the fact that students will have to PAY BACK their loans WHILE THEY ARE STILL IN SCHOOL.  Graduate students get a small reprieve in that they only have to pay back the interest, however this is still not an option.  Students can rarely hold down full time jobs to pay for tuition while attending school.  I know, I had to borrow money for Grad school and so did my wife.  It’s impossible to work full time and go to school full time, it just isn’t physically possible.

If you think Grants are a solution, they just tightened the qualifications on those as well.  An estimated $4.6 Billion dollars came out of money available to students, to pay for the federal deficit.  The total cost will be $18 to $20 BB over the next 10 years.  But I have to ask what the real cost will be, with less students attending school.

The only way to fight back, is to build up your own funds, quickly using Send My Kid.

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