Last week one of the major news stories focused on the fact that the student loan interest rate may double. While the issue is an important one, I don't think that it fully addresses the situation. While the interest rate may go up or down, the real problem is the amount of money that people are borrowing to pay for college. It can be staggering to graduate thousands of dollars in debt in a struggling economy. The amount you borrow will affect you in the long-term.
You can do things now to lower the amount you pay for college. You can work and go to school. Additionally you can look at your other living expenses and find ways to reduce them. If you work actively to reduce the amount you borrow, you will be much better off once you finish college. Take the time now to create a plan so you do not graduate with a ton of student loan or credit card debt.
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