Student Loan Default Rates On The Rise (Again)

DebtRise“The rate at which borrowers of federal student loans default on their debt within two years after beginning repayment rose for the sixth consecutive year, reaching its highest level since 1995, according to data released Monday by the Education Department.”

So begins yet another article about the current debt crisis facing current college students and graduates, this time from Inside Higher Ed’sDefault Rates Rise Again.” The image above is from an NPR story worth listening to: “College Student Debt Grows. Is It Worth It?” And this video from Newsweek shouldn’t be missed:

The last thing I want to do is be all “doom and gloom,” as if I’m trying to scare people into coming to a seminar or something. Would that work? Maybe I do want to do that! But the sad reality is that too many families are making bad decisions concerning college debt and many of those bad decisions can be avoided by asking better questions about life after high school. What is the true cost and value of a college education? Is it possible to go to college without going into debt? What are the best strategies for financially planning for college?

College Choice - CTI HomepageThe College Choice Seminar will seek to answer these questions (and more!) on October 12 in Lancaster, PA. CPYU’s College Transition Initiative continues to strive to provide resources for helping students and parents make wise decisions about life after high school.

In addition to the new seminar, here are a few more resources to help you in your college planning.

College Planning Resources:

Speaking: Northeast Christian College Fairs (NACCAP)

Blog: “College Financial Planning: Advice for Parents and Students

Blog: “Is College Worth It?

Article: “How to Choose A College: Pray, Prepare, Pursue” by Matt Reitnour (.pdf)

Expert Interview: “College, Crippling Debt and the Need for Financial Wisdom: J. Steve Miller Interview” by Derek Melleby (.pdf)

Book: College Bound: What Christian Parents Need To Know About Helping Their Kids Choose a College by Thomas A. Shaw

Book: Make College Count: A Faithful Guide to Life and Learning by Derek Melleby