My sister’s husband is going to go to school full-time in the fall. This is long overdue, and I’m excited for him. He just got his FAFSA info back, and he qualified for Pell Grants, which will cover about 75% of his costs. They’re hoping to qualify for some scholarships also, becuase he wants to be a teacher, and there are quite a few incentives out there for prospective teachers.
Then, after they’ve tried all the free options, they’re probably going to have to look at federal or private student loans. Hopefully, they can stick with Federal loans because of the lower interest rates and better repayment terms (deferral until out of school, etc.)
I joined the Army Reserve to pay off my loans. They paid $20,000, and I still owe another $5,000. I hope to go to grad school someday soon, but I’ll only do it if I work somewhere with a tuition reimbursement deal.
Before the war, and even during the first year, I would recommend the Army to anyone that would listen. They really have outstanding education benefits. But now, I wouldn’t recommend it to anyone. Maybe after the war is over. Maybe.
So, borrowing it is. But in the world of loans, student loans are the best kind. I recently consolidated mine, locked in a low interest rate, and have a really reasonable payment.