Co-op Programs Can Cut Student Loan Borrowing- US News & World Report
- March 29, 2021
- By: Greenpath Financial Wellness
The US News & World Report website “Student Loan Ranger” shared GreenPath’s insights about reducing student loan debt with cooperative education.
Recent high school grads are likely now thinking about how they will pay for higher education.
Those who are trying to figure out how much student debt to take on or wondering how they will handle student loan balances after graduation may want to consider colleges and universities that offer formal cooperative education programs.
Co-op programs combine academic studies with paid work experience in a field related to a student’s major or career goals. They are supported by an agreement between students, employers and the college or university to provide students the opportunity to work in positions that provide extensive experience in their chosen field.
What to Consider
In the article, we share that co-op education can potentially offset the amount of debt a student might take on to pay for tuition and other expenses in a number of ways:
- Access to competitive wages.
- Availability of funds throughout a student’s education.
- Potentially shorter length of time in college.
- Increased employability and earning power.
Although it can be stressful managing student loan debt, working with a nonprofit counselor can be helpful.
GreenPath’s experts can walk you through your options when managing your student loan debt. 91% of people served by GreenPath feel better prepared to handle their finances. Together let’s make a plan for managing your full financial picture to support your goals.