5 Dos and Don’ts of College Financing

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College financing has changed since most of today’s parents went to school. The average college graduate now gets more than a sheepskin when he/she walks up to the podium; the proud degree-holder walks back to their seat tucking more than $27,000 in student loan debt under their arm. Many people say it’s worth it. Education debt is an investment, they say. Others wonder if college financing needs to be approached more cautiously, in light of the dismal job prospects that await many of these debt-laden grads. Still others say it depends. If borrowing heavily means the difference between a less prestigious institution and a top school whose degrees have a reputation for opening doors for its graduates, maybe it's justified. What’s clear is that today’s students and their parents must think strategically about college. Here are some dos and don’ts that may help you. —Robin White Goode

College financing has changed since most of today’s parents went to school. The average college…