Ever wonder why the number of students having to take out student loans is increasing more and more with each passing year. The New York Times stated that two thirds of bachelor degree recipients graduated with debt in the year 2008, this was double the amount of students that graduated with debt in 1993.

One question that comes to mind is whether that debt was actually incurred due to educational related expenditures. Ever walk into the financial aid office of your university and see the poster that says, “Spend now, live like a student later?” Could it be that students are not being taught how to manage their money at a young age and overspending when they are supposed to be saving? Loan debt is a scary idea for many students, but perhaps a good part of that debt could have been avoided.

Let us not overlook the difficult financial situation that the country is in. While we are trillions of dollars in debt, the vast majority of the population is defiant at the idea of raising taxes, which means that the government will have to find other means of decreasing the deficit, such as enabling budget cuts.  How does this affect students, well one thing is for sure they can kiss their beloved grants goodbye, and say hello to more student loans.

So even though many people don’t like the idea of paying more taxes, maybe we should look at it as a temporary bad, for a greater good. It would also be beneficial to learn how to pinch pennies and live like a student now, so that we could live it up later. For many of us having to take out student loans is inevitable, but it’s best to make that debt as minimal as possible. Perhaps we can request workshops or even more classes to teach students how to budget their money better and spend less.

Also, for those lucky enough not to have to take out student loans, become informed, because you may not have to take out loans to pay for your education but perhaps your children will.  Or perhaps you will marry into debt, and you will have to help your significant other pay for their education. Nevertheless, whatever student loan debt you may have, look at it in a positive manner, look at it as in investment towards a better future. 

Check out this link for more information about budget cuts on grants offered to students:

http://www.wctv.tv/home/headlines/President_Obama_Proposes_Pell_Grant_Budget_Cuts_116131889.html