The director of the Kentucky Higher Education Student Loan Corporation says it’s a fact of life that most students attending college take on some debt.
Eugene Hutchins appeared before members of the House Budget Review Subcommittee on Postsecondary Education Thursday. Hutchins says families going “over their head” with debt is not the best plan for the family or student. “I think what we encourage for families as far as their planning process to factor in what the cost of debt is going to be in where they are choosing to go to school,” said Hutchins.
Subcommittee Chair James Tipton says part of the debt problem comes when students don’t finish school, but still face paying off loans. He is co-sponsoring financial literacy legislation for high school students which he believes could help students make better decisions.
