Student Loans The Good, The Bad, And The Ugly - 899 Words

Running Head: STUDENT LOANS: THE GOOD, THE BAD, AND THE UGLY. Brown-Gorham 1 Student Loans: The Good, The Bad, and the Ugly Da-Mosi Brown-Gorham English 101-23 Western Carolina University Running Head: STUDENT LOANS: THE GOOD, THE BAD, AND THE UGLY. Brown-Gorham 2 Most people are aware that federal student loans are a type of financial aid that must be repaid to the federal government, unlike grants or scholarships. Federal student loans are administered by the United States Government by way of the Department of Education. These loans can be directly made to the student, or to the parents of the student. Students have two choices: Subsidized and Unsubsidized loans. Parents have the option to take out a loan on the students behalf, this is called a Parent PLUS loan. Direct Subsidized student loans are need-based loans available to undergraduate students. The institution determines the limit on how much you can borrow. Unlike the unsubsidized loans, the interest on subsidized loans is paid by the U.S. Department of Education while the student is in school at least half-time and for six months after you leave. Stephen J. Rose, a professor at Georgetown University wrote an article in 2010 that speaks directly to why student loans. According to Rose, most student loan debt is accrued by those seeking a BA, and that thirty-five percent of BA grads come out debt-free. He writes that, â€Å"All of the debt figures that are publicly bandied about only refer to the 65% who have taken onShow MoreRelatedCollege Is A Time For Young Men And Women991 Words   |  4 Pagesdreams and hopes for their lives. While on this endeavor, pressures in all forms, shapes, and sizes attack us nearly every day. As a college student the fear and lack of money show their ugly head all the time. 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