7 strategies to avoid the college debt trap

Janet Bodnar

Is it worth it to pay $200,000 for a liberal arts education, especially if it means taking out loans? One of my 20-something Kiplinger colleagues answers bluntly: "If I had realized how much debt I was getting into, I would have gone to my state school instead of an expensive private college."

As important as education is in today's world, families need to find more affordable ways to pay for it. Mark Kantrowitz, publisher of FinAid.org and FastWeb.com, has calculated that total student-loan debt exceeds revolving credit (mostly credit-card debt).

Here's my guide for parents about avoiding the student-debt trap:

Posted by Jim Zellmer at September 5, 2010 2:45 AM
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