Remember the days when to get a loan you had to qualify and prove you had the capacity to repay the debt? Well, for college students, those days are history. They do not need to have a job or a cosigner to get huge amounts of money in federal student loans. From what I discovered on my visit, students (and in many cases, their parents) are more than willing to accept as much as they can get in federal student loans because these days that’s just the normal way to pay for college.
But here’s the good news: These young adults are willing to listen to advice from someone who’s been around the block with debt. Seizing the moment, here is what I told them:…