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The College Debt Trap Summary

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I have chosen Janet Bodnar’s article The College Debt Trap for this unit’s discussion assignment. This is the third quarter that I am taking college classes. After I completed the process of applying and enrolling for on-line classes it was now time to figure out how I was going to finance my education. I never knew what a FAFSA was or what it meant. It took weeks to understand the process of applying for financial aid and luckily I now understand how it works. I have chosen this topic because many younger students attend college out of high school and do not know what they are setting themselves for when they graduate from college. “You’re looking for colleges that deliver good value—a high quality education at an affordable price” (Bodar, 286). You do not need …show more content…

The important information that all college students and families should know is how much will the education cost and will they be able to repay the loans after graduation. “Perhaps the most important mathematic exercise your child will ever have to do—and the most widely neglected—is figure out how much it will cost to pay back her student loans” (Bodnar, 288). Knowing the total amount of your education and how much the monthly loan payment will be after graduation will before entering college is very important and should be considered before entering your chosen university. This topic is important because many college graduates have a hard time finding jobs where they can earn enough money to pay back their loans and still have enough money to pay their monthly bills. Many student go into default on their loans and have their wages and income taxes garnished and this will affect them for years to come when they are looking to start a family or buy a

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