Many would-be college student forego going to a university because they worry that having to take out student loans will only cause more debt and financial strain then necessary. However, interest rates on student loans, mostly federal student loans, are low at the present time and may go lower in the summer.
No matter their rate though, student loans are typically affordable to almost anyone looking to get a college degree. There are also new laws that are set to go into effect in the future that will make the maximum amount you have to repay on your student loans relative to your income.
There are also jobs that one can obtain after college that offer student loan forgiveness options. Specific fields like teaching and governmental employment may offer college graduates loan forgiveness after a specific period of time or they may pay off a certain amount of your student debt each year you are employed.
While student loans should only be an option after scholarships and grants, perspective students need to know that even with student loans, paying for college can be affordable and with these new changes in student loan laws, there is no excuse not to get your education.