Student loan debt is at a frightening high in 2022. According to Forbes, we’re currently dealing with $1.75 trillion in total student loan debt. This includes both federal and private loans. The financial aspect is certain to affect college success. In response to this, ScholarPrep Nation is here to prevent or at least limit the severity of college debt.
How exactly can we do this? We believe that it is possible to take some of the financial pressure off students and their families by planning ahead and demystifying the college and scholarship application processes. We also believe that financial literacy is now more relevant than ever before. ScholarPrep Nation is determined to put an end to the student debt crisis.
In today’s article, we’ll take a look at some of the main reasons why planning ahead for scholarship and college applications could potentially prevent our young ones from becoming student loan borrowers. Read on to find out more!
Timely College and Scholarship Applications Result In Less Student Debt
Student debt could be avoided if only families knew how to correctly and timely fill in the scholarship and college applications for their children. African-American students are often first-generation college students, which means that they may not have any family members to turn to when the time comes for them to fill in their college applications.
ScholarPrep Nation advises families to get started on the college planning process as early as possible. Preferably, your young one should start pondering their higher education goals as early as eighth grade. That way, you will have plenty of time to get organized.
Things like community involvement, extracurricular activities, or awards and honors take time and determination. Leadership and work experience also necessitate quite a bit of preparation. The senior year marks a transition point in the lives of young scholars, not a time for rushing scholarship and college applications.
Loan Forgiveness Doesn’t Erase the Issue of Inclusivity In Education
Although President Joe Biden announced that he will provide student debt relief to those who need it most, African-American students and their families remain skeptical about it. Described as debt cancellation of up to $10,000 of student loan debt and up to $20,000 for Pell Grant recipients, it aims to lessen the burden of private and federal student loans.
Individuals making less than $125,000 a year might find the loan forgiveness beneficial. However, it still misses the mark from a racial point of view. Did you know that Black families borrow student loans at higher rates than other races and owe more? Although loan forgiveness might sound like a miraculous idea, it fails to consider the severe wealth disproportions between Black and white families.
By not considering the bigger picture, financial inequity will continue to affect African-American students indefinitely. It is time to leverage tools and resources that can make a difference and that can secure scholarships for our young Black scholars. ScholarPrep Nation is one of those tools.
ScholarPrep Nation: Your Afrocentric College Access Program
It’s time to arm African-American students with valuable knowledge, the kind that will serve them throughout their entire lives. They have a right to know exactly what to expect during their college and career journeys. Now, the opportunity presents itself through none other than ScholarPrep Nation.
Together, we can help our young scholars learn how to make inspired life decisions and focus on their academic achievement levels, all in a culturally affirming way. Our Afrocentric approach to life and education will prove useful as the children will grow up to become self-aware and empowered adults.
The ScholarPrep Nation college access program is an expert tool for those who wish to reach college success with total certainty. Here are a few of the program’s main benefits that stand out the most:
- Full access to a culturally immersive online network
- On-demand academic mentorship
- Expert advice from our Educational Consultants
- Personalized scholarship search
- College essay prep
- Being paired with an expert coach, also known as a ScholarPrep Navigator
- Completion of personality assessments
- ACT/SAT prep and tutoring
- Monthly webinars and accountability meetings
- …and many more!
Ensure College Success and Limit College Debt With ScholarPrep Nation!
Knowledge and preparation can lessen the burden of federal student loan debt. Unfortunately, many young scholars, along with their families, continue to view scholarship and college application processes as both confusing and overwhelming.
Fortunately, ScholarPrep Nation is here to bring awareness to both the severity of college debt and the demystification of the application processes. Our children do not deserve to be labeled as federal student loan borrowers. If inclusivity in education is the end goal, all debt should be canceled.
Until then, we have work to do. Contact us now! We’d love to hear from you and find out what your specific needs and goals are! It takes a village to raise a child, here’s ours!