With the current economic conditions the way it is and the financial crisis, money is drying up soon. For our children, it is going to be harder than ever to get educational loans. If they do get it, there will be record default on existing loans.How much loans do our students have to stomach to get that higher education? Are they meant to be in perpetual debt ? How can we pop this loan bubble? There are few things that are responsible for driving up the price of student loans. The government is no longer granting loans. And then of course with the credit downgrade, it has significantly increased the cost for the companies borrowing money to lend to students who will then simply pass on this increased cost on to the students.It is only fair that that just like housing loans student loans be forgivable with bankruptcy. Anyways, now is the time to change our attitudes and have our younger generation think of new ways of saving money from an early age. Rather than racking up loans it’s the time for students to look into what skills they possess and how they can sell their services to come up with enough dough for college and beyond.
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