Pay For College 123 has developed the Student Loan Awareness Project (S.L.A.P). as a vaccine for the student loan epidemic. S.L.A.P. works quickly by educating both parents and students about the deadly consequences of student loans and how to avoid them.
Online PR News – 07-September-2012 – Marlton, NJ – John G. Nettleton, a Certified College Planning Specialist and Pay For College 123 have developed Student Loan Awareness Project (S.L.A.P). as a vaccine for the student loan epidemic. Most families don’t recognize the signs of student loan debt until it is too late, usually when the first repayment is due. S.L.A.P. works quickly by educating both parents and students about the deadly consequences of student loans and how to avoid them.
S.L.A.P. goes to work on four main areas of the epidemic. First, parents don’t know the rules on how to pay a lower “wholesale” price for college, so instead they just follow the crowd, getting infected with student loan debt. Second, emotions have clouded parents' thinking. They don't want to disappoint their child and feel guilty for not having saved enough money for college. Third, the child has no real world financial experience and yet they are making $200,000 decisions that stricken the family’s financial well-being for the long-term. And finally, families are chasing after "bumper sticker" colleges instead of focusing on a college that is a good fit for the student.
Mr. Nettleton, author of the book How to Avoid the 21 DEADLIEST Sins Parents Commit in Planning for College stated "The epidemic is widening as student loan debt now tops One Trillion Dollars. And one out of ten students who entered repayment in 2009 was in default by 2011. Families rely on the government to do something, but their actions so far are like an EMT trying to put a band aid on a gunshot victim. The real victims are the students who end up with a life sentence in student loan debt. Their rallying cry across America is "Why didn’t anyone tell me?”
To help families do-it-themselves, but without going it alone, S.L.A.P. is releasing four free videos. Parents can get the first free video entitled “It’s NOT Your Fault!” at http://www.PayForCollege123.com. John G. Nettleton is president of College Financial Network, Inc. T/A Pay For College 123.