<p>I do think there is a big issue with student loans. I went to college at 17 yrs old. The financial aid office (at Iowa State, a school known for high student loans) convinced me that these loans were so minor, no problem paying them off, and so on. I had no parents so, I had a huge financial aid package of loans. No parents meant no financial support from them so I had a lot of financial aid, but it also meant no one to tell me not to take all those loans. I also still had to work 30+ hours a week so I only took 12 credits a term. I was burned out after 3 years and only had just over 2 years worth of credit. I knew nothing about clep exams and even though I took AP classes in high school, I also knew never knew to take an AP test (this was back in the 80’s and my teachers never even mentioned the tests). I was burned out so I went and worked full time for the next two years and then returned to a different university where I was actually given grants and such to go to school. I had earned a scholarship the second time around. I was much more wise. Didn’t matter. I was already strapped with $30,000 in student loans from 3 years at Iowa State. Then, to top it off, when I graduated college, I married and right away, had a baby who was born with serious medical problems and could not work. Yeah. Now, 17 years of interest, which was over 8% in the late 80’s, I owe $90,000 even though I have been paying near $1000 a month at this point. I am in my 40’s. </p>
<p>I plan to do all I can to reduce the debt my children have to take. They will make their own final choices, but hopefully, they will do better than I did with our guidance and help.</p>