The Pros And Cons Of Student Loans

Lenders of student loans, grants, and scholarships have several different qualifications. An enrollment process requires information to help make the decision of one’s acceptance in addition how much aid available is based off of many things. One being the students yearly income or guardian’s income. Not all parents are able to provide financial support. Government Funding for student loans should not be based on parents income. Having parent income play a role in the acceptance of a loan or grant prevents many students from having financial aid. “Most colleges rely on the FAFSA's aid formula to allocate portions of student and parent income to college expenses” (“CollegeData”). Lenders of financial aid set a limit on how much and how little family income can be to become eligible and have potential acceptance. “Students whose total family income is $50,000 a year or less qualify” (“Federal Grants”). The …show more content…
Bills have to be paid, resulting in parents not being able to help pay for post- secondary education. Whenever home life complications occur, this can affect the students education. Bills are just one of many issues. If a student lives in a household with many siblings this makes it difficult for the parent to send all their children to school. What if the student does not live with the legal guardian? Children living with their grandparents become more common everyday. Not all parents sign their parental rights over, maybe because they do not want to face any legal issues. This becomes an issue because the student is not receiving any financial help from their legal guardian; however, their future is in the hands of the parents simply because they make too much money. As frustrating as this may be; consequently, the student has no control. Many families want their child to know responsibility. Therefore the parent feels as though their child should have the financial responsibility if wanting to attend

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Pros And Cons Of Student Loans