A Consumer’s Guide to Paying for College

Despite some people and organizations maligning the college education, it still holds tremendous value and necessity for many potential students.  College is a prerequisite to graduate and professional school.  Life as a college student provides the opportunity for maturity, initiative, social skills, and other vital life skills.

Obviously one key question nowadays is how to cover the cost of college.  There are millions of dollars of scholarships and aid that are available but what if your child is unable to obtain enough money to cover the cost of a college education?  Loans are the next option but there are a plethora of types and programs so how does one navigate these waters?

The Consumer Financial Protection Bureau has guides, tips, calculators, and other resources for paying for college.  Read all scholarship and loan agreements carefully and ask questions before signing on the dotted line.  Given that college loans usually are not dischargeable in bankruptcy it makes sense to look before one leaps.  If you have problems with college loans or creditors collecting on college loans you should consult an experienced legal professional for assistance.


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