Every week in this blog I encourage you to avoid student loans for yourself and for your children.
But, what if I’m wrong?
What if borrowing on student loans is smart? What if you really can’t get a college education any more without taking on student debt?
What if your child should be able to go to any college they want regardless of the cost?
Maybe President Obama is right about student loans and making them more attractive to students and parents. He has been quoted on a number of occasions during his re-election campaign this year saying:
“No family should have to set aside a college acceptance letter because they don’t have the money”. President Obama
Most politicians say similar things, especially during an election cycle. And the government provides almost 90% of all student loans in America now.
Maybe it is OK to let your child attend Princeton rather than your state school even if you can’t afford it? Maybe money should not be an issue when it comes to your education or the education of your children.
Maybe the politicians, the ones lending you the money, are right?
Are you really going to turn down money from someone who has lots of it and wants to give you some of it? Especially when they don’t really care how much you want. They will give it to you. All you have to do is ask.
And the new Pay As You Earn program is going to make paying the money back even easier. (More about that new program in future blog posts.)
Wow, maybe this free money (student loan) thing is the best thing since sliced bread.