It’s no secret that this country is currently quaking under $1.5 trillion in student loan debt, a weight that is preventing millennials and Gen Zers from doing life things like buying houses, taking risks, and getting married (if that’s a thing they want to do). This crisis disproportionately affects women, who hold two-thirds of America’s student loans and will take longer to pay them off—because gender pay gap.
That’s why Cosmo is rewinding the tape on your student debt...to the moments before you took it on. Before you signed on that dotted line (and casually bid adieu to untold thousands of your future earnings). That’s right: to your financial aid letter. It probably seemed innocuous enough, if you even understood what it was saying. But new research shows it was likely full of inconsistent terminology, casual omissions, marketing speak, shoddy math, and other things that could have made it hard for 18-year-old you to know what you were actually signing up for.
So whether you’re still figuring out which college to attend—and how the hell you’re gonna pay for it—or safely on the other side of graduation, struggling to afford your monthly loan payment plus rent plus groceries, read on to find out how not to fall for confusing and deceptive loan practices ever again.
Confessions from Real-Life Financial Aid Officers
Insiders spill the $$$ secrets your award letter is hiding.
9 Questions You Need to Ask About Your Financial Aid Package
Seriously, don't commit until you grill your school on these.
Shady College Loan Practices Every Student Should Watch Out For
Once you sign, you're on the hook to pay back every penny. Here's how to avoid the debt trap.
