Student Loans & Your Family
– By Priya Jestin, Staff Writer
The cost of education is putting a heavy strain on you. But you may not realize that it is putting an even heavier strain on your parents. Despite scholarships and gifts, students still need some more money to get through college. And the worst part is that parents with one or more children are finding it difficult to get as much loan as they would like to have because their finances are already stretched to the limit.
This applies to people who belong to the upper strata of society where double incomes help insulate the burden of loan to some extent. However, their finances are hurting and it shows. Today, the top priority for parents is saving for their children’s education. Retirement plans and savings have taken a backseat thanks to the high cost of education.
October 31st, 2006 at 3:57 am
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