If you are a student trying to decide where to go to college, or if you are a student's parents wondering if it is worth taking out a second mortgage or invading your retirement fund to send your child to college, I suggest you read a new book called Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships or Mooching Off My Parents by Zac Bissonnette. This book provides a lot of good information -- some of it very needed -- for anyone about to make a college decision.
The author, Zac Bissonnette, was a senior at the University of Massachusetts when he wrote this book to guide other students through the very expensive process of getting a college education. He shares everything students need to know about college funding, financial management, earning money during college, selecting a major, and using credit.
The average student graduates with $23,000 in student-loan debt and $3,000 in credit-card debt. Zac explains how students and parents can evaluate scholarship and financial aid packages. Zac tells students they should not take out any student loans and parents should not jeopardize their own financial security to help pay for college. One tip is, don't rely on high school or college counselors for advice. They are not reliable sources of information; you have to remember that they work for the school or college and have the institution's financial interest at heart, not the student's.
Zac has the answer to the argument that college debt is a good form of debt because it will help kids earn more money. College graduates seldom get a job that justifies the debt they accumulate. The name of this useful and practical book by Zac Bissonnette is Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships or Mooching Off My Parents.
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