Federal student college loans application is like finding the golden ticket to be able to access the candy factory of student loans.
A factory full of Oompa Loompas that manufacture debt that is at you and your child's disposal in limited supply.
Fountains of money that can rain down on you with the stroke of a pen or a casual push on a keyboard.
One misinformed step, one selfish move, or one greedy act can turn, what suppose to be an enjoyable, life fulfilling experience, into an endless cycle of financial debauchery.
Where your child's debt balloons into unrecognizable amounts, pumping them up with interest of air that perpetually fills up their financial bubble, never being able to get their feet planted on the ground...
Turn your student blue as a blueberry, due to the sickening and saddening feeling they will constantly feel while not being able to get ahead in life financially...
Or, reducing your student's financial capabilities down into millions of tiny little pieces, with the use of Wonka-Vision. Wiz them through the air through years of deferment, only to have their financial portfolio come out on the other side a minuscule fraction of what it could have been.
I said all of that to say...
The cost of a four year degree has skyrocketed past $150,000 in hundreds of schools across the country and millions of parents and grandparents are crippling their finances for decades by failing to make informed decisions.
Before you fill out that federal student college loans application...
Most parents are unaware that they are on the hook for 94% of all new student loans. Which leaves them with burdensome debt at a time when they should be focused on retirement.
Without a specific action plan, 50% of students enter with an undeclared major, which is one of the primary reasons 49% of all freshmen fail to graduate. Yet they are buried in debt and unable to earn enough to reduce it.
And unprepared for hidden cost or unexpected expenses, 64% of students today run out of money every semester forcing them to drop out, incur more debt, or head back to family members for financial support.
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