Choosing the Right College: Learning from Students in Loan Debt

Source:Flickr/_dChris

What comes to your mind when choosing the right college? Most people think about the location, class size, and even what organizations and groups are on campus. And while those are important, I think there's something most students miss, even with all the information in the world on the topic of financial aid.

The Occupy Wall Street protestors are ardently asking for the government to forgive student loans that have now reached a tipping point of more than $950 billion.

I'm not here to pick sides, but we can all agree student loan debt is a problem. And although students aren't the culprits behind rising college costs, it's important to carefully consider how much a college education is really worth.

While I believe going to college is important, I don't think it's for everyone. But if you believe going to college is for you, then you need to start seriously assessing your financial situation a lot better.

It might mean not going to the college of your dreams but instead sticking to a cheaper one assuming that the education for your particular department is just as good if not better.

I recently talked to my friend Jenn and we discussed a lot about her student loan debt that now totals over $60,000. One of the key questions I asked her was if she understood the financial aid process and how student loans are paid back and to my surprise, she didn't truly understand.

This is scary because I've asked student's all across campus the same question and many answer that they don't truly understand how they will pay back their loans.

Jenn told me that if she could go back she would so don't make the mistake of spending loosely on an education. Shop around and make sure you ask questions to every potential college. Don't go to a college bases on emotion.

You need to make sure it's affordable and that you work as hard as possible on the ACT or SAT to test because it can get you a lot of financial aid among other things. What do you think about this issue? Do you find yourself in a bad situation?

Do you have great tips, advice or content for students?

Share your knowledge with other students about the topic on the page.

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