College Financial Fun

Manners for the "Now" Generation
The Curse

Student Loan handbook coverThe Student Loan Handbook
All about the Stafford Loan Program and other forms of financial aid for students and their parents.
Chandler and Boggs
1990

Think this book is any help?  This book has been revised and updated! Ha!

Lets get some perspective.  My son was born in 1990 and will be graduating from college this year. Wonder if the material is out of date? Wonder no more, it is.  This one kind of angers me (just like out of date career books).  Can you imagine the stroke parents and kids will have when they see interest rates quoted at about 12%? Or the needs test? There is no earthly reason for this to be on a public library shelf. (Yeah, I am going state it categorically and don’t write me and tell me that someone is going to go to xyz public library and do historical based research on college financing or worse yet, “it is better than nothing” or my personal favorite: “You two are responsible for the ruination of civilization”.)

Ruining civilization one crappy book at a time,

Mary


Stafford Loan Program

stafford loan amounts

8 comments

  1. I am in a chemistry PhD program and have been relying heavily on the Stafford Loan program these last few years. There have been a lot of changes to the federal student loan program recently, everything from who the money comes from (Federal Direct Loans now versus private banks when I started grad school) to repayment terms. Also, those limits are waaaay off. I WISH I only had $54,750 to pay off when I finish! While it is important to have information on this topic available, the number of changes to the program just within the last year have been such that a printed book is probably not the best option for reliable, current information.

  2. This is the picture taken *before* the family finds out they’ll each have to sell a kidney on the black market to pay off the loans…

  3. I love how it says “each student averaged about $4,500 for just one year of school.” Yeah, want to try about 5-10 times that now?

    Do they even have borrowing limits now? Well, if they do, they’re certainly higher than $17,500. Most people I know graduating with a bachelor’s have about $30k (of course, I’m not really familiar with THAT many people’s loan information).

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