Student debt is a big problem in the United States today. 54% of young workers report that right now, paying off student loans come before saving for retirement. What’s more, 40% report that worrying about student loans has impacted their health.

Does this mean nobody should ever take out loans to pay for college? Of course not. A college degree is more valuable now than ever before. But it does mean we should be smarter about those loans.

Firstly, parents and students should attempt to accept as little in financial aid as possible. It can be tempting to take advantage of every penny offered, but we forget that we will owe it all back later, plus interest. So only accepting as much as you absolutely need means you’ll have an easier time paying it off.

For more financial aid tips, read the full article here.

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