Beat the college debt trap
Over the holidays, I was chatting with my sister-inlaw, who’s a financial advisor for a highly respected financial ser vices organization that’s in the top 100 of the Fortune 500. We were talking about the value of a college education compared to the outrageously high cost to go to college these days.
She asked me to recommend a book or resource that she can offer to her clients to help them navigate student loans, personal savings, scholarships and savings programs. She was hoping for an all-in-one book that would be easy to read and understand. Sadly, I couldn’t even give her one resource.
But that was last fall, and this is now. I am very excited that there is such a source today: a new book by Alex Chediak, called “Beating the College Debt Trap: Getting a Degree Without Going Broke.”
I was hopeful when the publisher asked me to read the manuscript — hopeful that someone would finally nail this difficult topic and offer realistic solutions for ordinary people.
Once I got into the manuscript, I was doing the happy dance. Chediak spares no punches, coming at the subject from his experience as a student and a college professor. He knows his stuff. He dives right into the nittygritty of how to pay less for college while getting meaningful work opportunities. He also addresses how to pay off loans quickly (he recommends never taking on more than $10,000 in student debt, which I agree is reasonable). He teaches the reader to spend less, save more and stay out of debt for good. Honestly, reading this book is like hearing myself talking.