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Indiana University

Money-smart kids: Stemming the tide of college debt

Democratic presidential candidate and former Maryland governor Martin O'Malley raised more than a few eyebrows when he recently disclosed that he and his wife had racked up nearly $340,000 in parent PLUS loans (federal education loans for parents or graduate students) to pay the college tab for two of their four children. Getting that deeply in debt is no way to pay for college, either for students or for parents. My best advice to college-bound families is always to run the numbers before you borrow a nickel. I recommend the loan-repayment calculator at FinAid.org that lets students calculate how much it will cost to repay their loans based on the average starting salary for their...

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