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College Planning Essentials for Rising Seniors

Part I of this series encouraged students to borrow only what they need and keep their borrowing in line with their career choice. Below are some additional techniques to help students minimize the amount they borrow for college. Some of these require a lot of foresight and need to be done prior to applying for college. As with the tips in Part I, these tips may require you to make some sacrifices - but these short term compromises will have a very long term payoff.

It's no big secret that student loan debt is getting out of hand for some. The average student graduates with more than $25,000 in debt. But there are ways to minimize your debt, and limit the amount you borrow  for school. The smart borrowing techniques listed below can help you. Yes, these tips may require you to make some sacrifices - but these short term comprimises will have a very long term payoff.

If you turn on the news, you are likely to hear about the pending increase of subsidized Stafford loan rates if Congress doesn't act. Rates, currently set at 3.4%, are set to double on July 1 to 6.8% - and without intervention - it will happen.