Our view: Responsible borrowing

Oct. 24, 2012 @ 10:51 AM

Last week, North Carolina State Treasurer Janet Cowell, wrote a piece addressing college students and the need for them to borrow college tuition money responsibly.

Of late, it has been no secret that college students have been prone to stockpile large amounts of college loan debt, but perhaps it doesn't have to be that way.

Today, more than ever, college students and their parents need to be better informed of the choices they can make and the ramifications of the choices they will make, especially when it comes to paying for college.

Presently, the College Foundation of North Carolina and the Department of State Treasurer have worked together to create a resource at www.cfnc.org.

That resource is called "Advanced Money Management for Community College Students" and, it is a simple web-based application that gives students and families ways to examine debt amounts for college and finding ways to make a college education affordable.

In an opinion from The Herald-Sun, Cowell wrote:

“We know it can’t prevent loan abuse or even guarantee a decrease in the 14 percent three-year default rate on loans by the state’s community college students. As an integral component of a comprehensive default prevention initiative, the program will help simply by giving students more than a guess at the best amount to borrow.”

If you have a college-aged student or one that is close to deciding their college education, we hope that families take advantage of the opportunity to get all of the facts and figures when it comes to college debt.

Students and their families need to be informed before making decisions about college loans because those decisions can impact a student's life well after college is completed.

It is not to say that a college education is not worth the price of admission, as it were, but making the proper decision on what college is best and what the best major pursuit is needs to be examined in all facets and with as much information as possible.

Things like determining just how long a college career will last can make a difference. The differences between a public university or community college in relation to a private college is also factor.

There are pros and cons to every potential decision that needs to be factored when deciding on higher education.

The days of simply deciding where a student wants to go to college are over.

There are many other considerations that need to be thought through.

In the end, the goal needs to be to have students and their families make the right choice for the student, but that has to be an informed choice above all.

By Matthew Clark, for the Editorial Board


The Daily Courier Editorial Board consists of community members Jerry Brewer, Kyle Bingham, Tom Padgett, Dr. Shermaine Surratt and Cliff Strassenburg as well as Publisher Jake Volcsko and Editor Matthew Clark