And here is a site full of horror stories.
http://studentloanjustice.org/problem.htm
Maybe your niece can read some of this.
Apparently, only 1/3 of college graduates have no student. And the average student debt is $24K. It is a recipe to destroy the younger generation. It is evil.
no student = no student debt, it should say.
The Author of the website also wrote a book that was quite an eye opener.
Student who owed approximately 30-40K defaulting (usually because of unemployment), with penalities they very quickly owed triple that amount. (A form of Usury).
Students who are hounded at their work 10 times a day by collectors so they very quickly become unemployable.
In some states they can take away professional licenses for defaulting on loans. Again making the student unemployable and unable to pay their debts.
Many documented cases of students fleeing the Country to escape from the debt.
FAFSA don’t get me started. It’s giving complete financial information about your family to the dept of education. If your family has been responsible and both parents have a good job. Forget it you can pay full price.
NO way would I let my kids do this to themselves.