Today, the average college student graduates with a staggering amount of accumulated debt. Very few students, less than 20%, are able to complete their post-secondary education without amassing some level of student loan debt. While college loans make higher education more accessible to a greater number of students, they also come with a fair amount of risk, and students should approach them with a degree of caution.
For many students, the college loan process is their first substantial financial experience. Consequently, they may not fully understand their responsibilities as borrowers, and may be unprepared to successfully manage their outstanding student loans. Defaulting on a student loan is never an option, and borrowers will be responsible for full repayment, plus interest, of the loans they have received.
To help students better manage their college loans, many lenders now offer financial tutorials that explain the loan process from issuance to final repayment. These tutorials are designed to ensure that student-borrowers fully understand their rights and responsibilities, and are prepared to fully repay all loan monies received. In some instances, student-borrowers will be required to complete a loan tutorial before any student loan can be issued. 
College = Debt
A college education is a costly proposition and, like it or not, most students will need to rely loans to make that education a reality. The costs of college continue to rise, and show no signs of leveling off. College equals debt, and if you are planning on the former you must be prepared for the latter.
Depending on your career goals, and on the availability of grants and scholarships to help offset your unmet need, you may be looking at an accumulated student loan debt of anywhere between $26, 000 and $100, 000. Consider the following statistics:
- Students graduating from a 2-year vocational school or technical college will amass an average of $10, 000 in student loan debt. These are students who are working towards certification programs that will help them to transition directly into the workforce.
- The current average student loan debt for graduates from a four year college or university stands at $26, 600. That figure can rise significantly for students attending a private, for-profit college or university. These are students who have received a Bachelor’s or baccalaureate degree.
- Graduate students will be faced with an even greater amount of student debt. On average, students earning a graduate degree will leave school with an average of $43, 500 in accumulated college loans. Again, this amount will be significantly greater for students graduating from a private for-profit university. Students studying medicine or law can easily amass a student loan debt that tops six figures. Taking into account loans for residencies and bar exams, they can easily find themselves with loans in excess of $100, 000.
