This Story Could Save You From Student Debt
It’s no secret that this country is currently quaking under $1.5 trillion in student loan debt, a weight that is preventing millennials and Gen Zers from doing life things like buying houses, taking risks, and getting married (if that’s a thing they want to do). This crisis disproportionately affects women, who hold two-thirds of America’s student loans—and who will take longer to pay them off, because gender pay gap.
That’s why Cosmo is rewinding the tape on your student debt… to the moments before you took it on. Before you signed on that dotted line (and casually bid adieu to untold thousands of your future earnings). That’s right: to your financial aid letter. It probably seemed innocuous enough, if you even understood what it was saying. But new research shows it was likely full of inconsistent terminology, casual omissions, marketing-speak, shoddy math, and other things that could have made it hard for 18-year-old you to know what you were actually signing up for.
So whether you’re still figuring out which college to attend—and how the hell you’re gonna pay for it—or safely on the other side of graduation, struggling to afford your monthly loan payment plus rent plus groceries, read on to find out how not to fall for confusing and deceptive loan practices ever again.
Student loan debt is crippling a generation of women.
And it all starts with your award letter.
A breakdown of everything on your award letter—
in words you can actually understand.
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