To the Editor:
High school seniors should have applied for their financial packages within the last several months, and colleges push the loans, along with grants, scholarships, and job offers.
They and their parents need to understand what they are getting themselves into when they have to start paying the money back in the July after they leave college with or without a degree or good-paying job.
I personally know a young lady who was dropped in January by a university after seven semesters because her gradepoint was 0.3 point below the required gradepoint for her field, and she had to get a job. She cannot return to finish for one year, but she has to start paying on her college loans of $20,000, July 1, 2015. [Read more…]