In the U.S. nearly one in 10 community college students cannot get a federal student loan. The federal student loan is considered to be the safest, most affordable way to borrow for college. These students cannot get this loan due to the reason that their schools choose not to participate in the federal loan programs.
20 % of the community college students have no access to federal loans
A new issue elaborated from the Project on Student Debt found that more than 20 % of the community college students in seven states have no access to federal loans, which includes six states (AL, GA, NC, LA, TN, VA) in the southern U.S. African-American and Native-American students were twice as likely as other students that cannot have any access to federal student loans.
Federal loans can be helpful for the students
Despite of the low tuition, for attending a two-year community college the average total cost ($14,054) is three-fifths that of a four-year public college ($18,326). Federal loans can be helpful for the students to afford college costs, that includes textbooks, transportation, and housing when grants and scholarships fall short.
Students may turn to risky and expensive private student loans or credit cards
Briefly explanation of all this is that if the students won’t get the federal students loans then these students who need to borrow may turn to risky and expensive private student loans or credit cards. Other students may choose to drop out, work excessive hours, or take fewer classes, these are all such choices that reduce their odds of earning a degree or certificate.
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