College costs have gone up 500% since 1980 precisely because they charge the kids who aren't Eric Holder's kids extra while they are stupid enough to bury themselves in debt, and use the extra charges to give "scholarships" to the kids who are Eric Holder's people.
Student loans are the ONLY debt you cannot escape through personal bankruptcy. Since the loans come from the federal government, people who take out student loans are making themselves indentured slaves to the federal government.
Discourage your niece from taking out ANY loans. Go to community college, take a couple extra years, whatever it takes, but DON'T go into debt.
I made those very points to her but at 18 I don't quite think she understands it all.
I look at the whole thing as almost a conspiracy to get these kids to take out loans.
I am trying to counsel her to go to the local college here in Little Rock, maybe take a light load and for her to get a job to see how she fares and if college is the right thing for her.
I really don't want her to saddle herself with these type of loans. Just have to get through to her on some level.