College Students Need Way Better Guidance on Loans

Schools aren't doing enough financial counseling: Laura McKenna
By John Johnson,  Newser Staff
Posted Oct 10, 2012 3:25 PM CDT

(Newser) – One part of the solution to the nation's student debt problem might not be all that hard to implement. At the Atlantic, Laura McKenna writes that college students often get remarkably little guidance about their loans and finances while in school. Sure, they talk to a faculty adviser to figure out which classes to take, but McKenna's research suggests that these advisers typically don't venture into money talk because it feels out of bounds.

The problem is that "this is the primary interaction that students have with grown-ups during their college years," writes McKenna. As a result, students are often painfully ignorant about their loans, along with the consequences of changing majors, transferring schools, dragging out their education, and thus racking up even bigger bills. That's not to say that faculty advisers need to take on this burden alone, but generally speaking, "colleges should provide more thorough, regular, and comprehensive help for students." Read the full column here. (Read more college loans stories.)

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