Right now, high school seniors across the world are wading through dense financial aid packages before making a decision that will impact the rest of their lives: if and where they should go to college. Should they take out a loan? Can they renegotiate the financial aid offers they’ve received? Is there a scholarship opportunity they missed?
The realities of the cost of college cast a somber shadow on the decision. Student loan debt is collectively at an all-time high of nearly $1.4 trillion—the second largest class of consumer debt after mortgages. More than 40 percent of student loan borrowersare either in default, delinquency or have postponed repaying their student loans.
