Student Debt, What is the present scenario

Federal student loan helps students continue their higher education. Aspire behind the scheme is noble, no doubt. But everything, if handled carelessly, can become the root of problems and the same thing is happening with student loans.

I was going through an article some days back. It stated that students are applying for loans more and more. The amount often crosses the requirement. While applying students usually forget that they have to repay the amount some day.

A recent study has shown how students plan for shopping when they receive the loan amount! This is really silly. They are just unable to resist the lure for shopping.

Stricter checking is needed before the loan approval. They should not be approved for higher amount of loan than what is needed for the course. Obviously some money management course should be introduced as well.

Parents also have some responsibility. They cannot just stay off from the blame because learning begins at home after all.