With the rising cost of college and the financial illiteracy of both parents and students, student loans are becoming an unspoken cycle of debt for many Americans, both young and old!
Is adequate financial education, the importance of career and credit planning, and the necessity of budgeting being discussed by educators, parents, and the student loan industry as a whole? Is getting a degree in an area that you’re passionate about a guarantee of a marketable career and the ability to pay back those loans?
Many student loans are backed by government sponsored enterprises like Sallie Mae and students tend to believe that this provides them with an element of safety and protection. But, in the case of default or bankruptcy, student loans are not forgiven or eliminated, so they can continue to follow a consumer for their entire financial life! When parents co-sign for their kids…the parent’s credit and buying power is also at risk!
Join me today along with my guests, Dr. Bennie Waller & Dr. Scott Wentland, Professors of Real Estate and Economics at Longwood University, as we discuss how today’s student loan environment is leaving us ALL chained in debt.
There are alternatives and IT’S MY MISSION to get that financial conversation started…so that any type of student, consumer, or home loan debt is used as a tool to improve lives instead of what seems to be an epidemic of debt imprisonment caused by a LACK of financial education, the making of good financial decisions and individual planning.
Knowledge is POWER!!!