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You may have heard the news today that President Obama is planning on making an announcement tomorrow in regards to student loans. The changes will affect a lot of families, as outside of mortgages the number one source of household debt are student loans.
That’s a topic that’s been on my mind a lot lately, as you may have noticed if you are a regular reader of my blog. With a sophomore in high school, the days of paying college tuition are coming closer for us.
We have high academic aspirations for our daughter and theoretically we hope she’ll get a really good scholarship and be able to help her out with the additional costs; but realistically we have to assume that student loans may be on our horizon.
We actually already made a college road trip to Texas where we considered relocation since the in-state tuition rate was so affordable. However, we decided to stay where we are and it looks like a private college is on the top of her list now.
Since both my husband and I did our higher education in Canada (where admissions and tuition is much different than it is here in the U.S.), this whole process is new to our family.
Between reading My College Guide and searching for the best student loans we feel that we’ll be better prepared when she needs to apply for college her senior year. We know that her education is an investment and we also know that even if the money to pay for it currently isn’t in our back pocket, we’ll do what we can to help her earn the degree she chooses.
Have you heard about the changes to student loans? If you have, do they affect you? What do you think of them?