Think student loans can help you afford college? Think again. It’s a mistake to confuse access to financial tools, including student loans, with affordability. What is a financial tool? A student loan is a financial tool. A credit card is a financial tool. A check is a financial tool. Cash is a financial tool as well. Financial tools, as necessary as they are, are limited in purpose: A financial tool allows you to pay your college expenses. A financial tool can not change the overall cost of earning your college degree. Affordability (your overall cost of college) and your ability to graduate from college with a degree are far more in sync than your ability to take out student loans and your ability to graduate from coll ...
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