How much debt should you consider taking on to pay for college? More importantly, how do you make this decision? What factors should people take into account when considering taking out a college loan (or loans)? As you think about and respond to these questions, discuss: The impact of higher interest rates on the total interest that needs to be paid over the course of a loan. The benefits of paying off a loan over a shorter time period, The effect interest rates have on one's ability to pay off debts over a shorter period. Note that there are many forms of financial aid available instead of loans What can you be doing now to increase the likelihood of your qualifying for other forms of financial aid? What else can one do to reduce the amount of loans they may need to take out