Student Loans 101

Student Loans 101
For some students, college means freedom. For others it means fun. But for most it means responsibility. Responsibilities include many things, but most importantly bills. For struggling college students, student loans are the way to go. Finding out which loan works best for you may take some time, but it is better than your other options such as credit cards or a bank loans.
For most students, credit cards seem like the best solution to their tuition woes. “I’ll pay it off little by little, no problem,” said Brooke Johnson who has accumulated three credit cards just to pay her way through undergraduate school. “My advice to my students is to cut up their credit cards and cancel their accounts,” said Peter Rosko, a retired professor who taught finance courses in the University’s Carlson School of Management. “I despise credit card people. They make it easy to get the card, but students run up a lot of debt.” The average credit card balance ...