Are student loans a scam or a trap? The answer I suppose depends on who is perpetrating the dishonest act. Some people get scammed while others conduct the scam. Anytime money is involved, there will be those who figure out a way to abuse it. The cost of college has sky-rocketed to gigantic proportions and have become un-affordable by many families.

Student loans have become the answer to a very big cost problem. Unfortunately, borrowing the money for college do not solve the problem, it only postponed the problem. High cost college programs have very sophisticated marketing programs and many prey on students who either can’t afford it or do not have the aptitude for success. What’s left is the student with the student loan.

While everyone should have a shot a getting a higher education, the path to do so is not the same. There are many ways to make college cost affordable but it may not be the most convenient nor that fastest approach to success. Taking out a student loan is equivalent to pressing the “easy-button.”

Whether or not you or your family can afford the cost of higher education should become the top determinate if or when you attend college. Get some help from a trusted financial adviser on the cost/benefit analysis of obtaining a college degree. Furthermore, a good dose of honesty must be applied on the likelihood of success. A college graduate with a student loan is bad but a non-graduating student with a student loan is much-much worse.

~H2