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The College Solution: A Guide for Everyone Looking for the Right School at the Right Price
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The College Solution: A Guide for Everyone Looking for the Right School at the Right Price

by Lynn O’Shaughnessy
June 2008
Intermediate to advanced
304 pages
6h 31m
English
Pearson
Content preview from The College Solution: A Guide for Everyone Looking for the Right School at the Right Price

47. Private Loan Perils

Nearly 50% of undergraduate private student loan borrowers fail to exhaust their low-cost federal student loans to finance their college education.

—Consumers Union report

Alison Rabil, the director of financial aid at Barnard College, became concerned one day when she was examining figures on the number of students at the women’s college who were taking out private loans.

Rabil and others in Barnard’s financial aid office certainly understood why private loans should be a last resort. But the school’s parents, even though many were college educated, didn’t appreciate the potential hazards of a private loan, which is the fastest growing source of student debt in the country.

Consequently, the school in New York City ...

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Publisher Resources

ISBN: 9780131359468Purchase book