Today I want to address rising high school seniors who will be stepping onto a college campus for the first time a year from now. This coming December or next spring, you will be receiving the financial aid packages from those colleges where you've been accepted. Many (if not most) of those aid packages will include student loan offers. The decisions you -- and your family -- make about dealing with those loans, if accepted, can have lifelong effects.
If you've followed my articles here on College Confidential over the years, you'll know that I am a passionate opponent of excessive student loan debt. The amount of debt owed by young people today across America is mind-boggling. Consider this statement from an article -- Student Debt Crushes Homebuying Dreams For Millennials , Now Delayed 8 Years -- that I will be further exploring down the page: “The student debt crisis is rapidly expanding, hitting a new record high of $1.6 trillion in 2019 and surpassing auto loans and credit card debt post-GFC [Global Financial Crisis]."