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Perspective: How to minimize student loan debt

Let’s continue our discussion of what many have termed “The Student Loan Debt Crisis.” I happen to like that characterization, because it’s scary enough to get more and more parents, high school counselors and students themselves to focus on the need today to do a cost/benefit analysis when it comes to a college education.

The more Americans hear about the nearly $1.5 trillion in student loan debt, the increasing number of defaults, the regret stories of young people who have borrowed too much, and the stories of the negative effects on the lifestyle and career choices of young people who are burdened with student loan debt, the more likely it will be that everyone will continue to make more informed choices, and the more likely they will start earlier to build realistic expectations and plans. So, personally, I hope that the media will keep bombarding the American public with this kind of reporting.

If those story lines are not enough to make the point, how about those new reality game shows, like CollegeHumor’s “Total Forgiveness” and truTV’s “Paid Off,” where young people burdened with student loan debt do the most outrageous things, or answer trivia questions, in order to earn prize money to pay down their debt? That’s what we have come to.

[Continue reading this op-ed by clicking on the link below]

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