Student loans > credit card debt

[Lamplighter]

As our 3 daughters grew up, one of the last themes in our parent-child
conversations was the dangers of credit-card-debt.
We were tyrannical about them paying off the entire balance each month,
and for the most part we were successful.
As they started their own families my wife and I were aware
their credit card usage was in reasonably good control.

But little did we know about what they were doing with their "student aid" debt.
We knew they were getting it, but we thought (errrr, told ourselves)
they were getting "grants" so it was OK.
Then after one PhD, one MS, and one BA we found out how much
was their total student loan debt. It blew us away.

This morning, the TV news had a story about it, and I found this article here

Student loan debt exceeds credit card debt
by Lisa Edge

According to a new report, the amount Americans owe on student loans now exceeds credit card debt by 3 billion dollars.
Experts say one reason for the increase is the rising cost of higher education.
Also, more loans are available now than they were years ago.

Unlike credit card debt - where filing for bankruptcy can clean the slate - student loan debt must be repaid.
Oftentimes people don't realize how much they owe until they go to make a large purchase such as a house.

So now, I am putting pressure on my G-kids who are in college to pay attention,
and to only accept the kind of student-aid that comes as a grant (doesn't have to be re-paid),
and instead to work part time so they don't have to get involved with the "student loans".

My wife and I are helping out as much as we can...
but it's a lot harder now than when we were starting out.