Paying for College

It’s more important than ever for students and former students to make smart decisions about financing their college education.  Whether you are attending college soon, are a current student, or already have student loans, Consumer Financial Protection Bureau has put together some tools and resources to help you make the best decisions for you.

If you are considering student loans to help pay for school, you not alone—many students need loans to cover their full cost of attendance.  If you have to take out student loans, comparing your options can help you find the student loan best suited for your needs.

Consumer financial Protection Bureau has prepared student financial guides, financial aid shopping sheet adopted by more than 500 colleges and universities, and other helpful information on its website.

For more information, click here.

Teaching Suggestions

You may want to use the information in this blog and the original sources to

  • Help students appreciate that the Consumer Financial Protection Bureau overseas private lenders, debt collectors, and loan services that manage borrowers’ payments and billings.
  • Describe why one-in-four student loan borrowers are past due or in default on a student loan.

Discussion Questions

  1. When borrowers default on a student loan, what might be some adverse consequences on their credit?
  2. Do you believe the student loan market lacks consistent standards that cover the servicing of all private and federal student loans?
  3. What can the federal and state governments to protect consumers in this market?