Student loans can be the worst things to experience but for most students seeking a higher education it is inevitable. Financial aid isn't helpful when most of it is in loans. The culinary students probably didn't get that great of a deal because od need base priority. To even get a full scholarship a students has to be on welfare and with a 99.99% average in high school. Other than that loans are the road to a bright future. Interest rates and fees are the things that make a loan a lethal decision. When a graduate is using their degree to find an entry level position and moving out on their own, $705 a month towards the Sallie Mae fund is going to put them into financial ruin.
I was given $1500 in a Stafford Loan and I have to pay $4000 towards tuition. I was going to take the $4000 out as a loan but my mom is taking it out of her 401K. So the only thing I have to pay is $1500 with a 6.8% interest rate.
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