Multiple surveys indicate that people with student loan debt regret taking out the loans. A 2026 ScholarshipOwl survey of over 12,000 students found that 71% of those who already hold debt regret the decision, with concerns centered on unaffordable monthly payments and economic uncertainty. A 2022 Givling survey reported that 63% of borrowers regret taking out student loans. A 2024 Ramsey Solutions study found that 53% of student loan borrowers regret going into debt. Other polls show varying levels of regret, with NerdWallet (2024) reporting that 36% regret the amount borrowed, and WalletHub noting that 61% of college students regret how much they borrowed. If you are reading this, then I likely don’t need to convince you that avoiding student loans is preferable. But there is another regret that many families tell me they have, even families who have avoided crippling levels of student loan debt: They wish they had started the scholarship process earlier. Next week, I’m sharing an interview with a mom and student who earned a full-tuition scholarship. Despite such success with scholarships, they even said that they wish they had started the scholarship process sooner. Likewise, Victoria and her mom told me the same thing in an interview last year, even though she earned a full-tuition scholarship, as well as enough in outside scholarships to cover room and board. I, too, feel the same way, even though my son earned 23 outside scholarships, and we paid only $1500 for his college degree, tuition, room, board, books, and fees included. I wish he had started applying for scholarships before his junior year of high school, as I am convinced he would have won even more scholarships. Unfortunately, learning how to have success with scholarships tends to get put on the back burner, especially during the school year. And I get it. Students are busy. That is why summer offers one of the greatest opportunities to kick-start your student’s scholarship journey, and why I’m so excited to offer the Scholarship Summer Camp again this year! The Scholarship Summer Camp is for high school students in the Classes of 2027, 2028, 2029, and 2030. Your student will learn the skills required for scholarship success by applying for real scholarships, including a $35,000 scholarship capstone project! But the Scholarship Summer Camp is designed in a way so that your student doesn’t have to give up their summer. Lessons and brief, yet impactful and actionable. Every Monday through Thursday, a new, pre-recorded lesson will be released. On Thursday evenings, we will be live (but recorded for future viewing), discussing the week’s lessons and taking Q&A. Here’s the agenda: Week 1: The Tools For Scholarship Success Week 2: Your Personal Narrative Week 3: Finding The Right Scholarships For You Week 4: Why Do You Deserve To Win This Scholarship? (Apply for a Real Scholarship This Week!) Week 5: Topical Scholarships (Apply for Another Real Scholarship This Week!) Week 6: $35,000 Capstone Scholarship Project! This year, I’m offering two different start dates for the Scholarship Summer Camp. Our first session begins on June 1st, and the second session begins on July 27th. So, when school starts again in the fall, how do you want to look back on this summer? As a time of regret, wishing your student had learned the scholarship process, or as a time when their successful scholarship journey began? To jumpstart your student’s scholarship journey, click here to learn more and register for the Scholarship Summer Camp today. ---------- Of course, the goal is to graduate from college with zero student debt. So, before taking any student loans, make sure your student is applying for every scholarship for which they are eligible. Remember, students can apply for scholarships throughout their time in college. This free guide on earning scholarships while in college explains where to find scholarships, has best practices for applications, and more. Beyond applying for as many scholarships as possible, complete the FAFSA each year. This may open grant and work-study options, as well as federal student loans. The federal student loans that the FAFSA opens for students usually have the best interest rates and terms, and do not need a cosigner. However, for the vast majority of students, the lifetime limit they can borrow is $31,000 ($5500 for year 1, $6500 for year 2, $7500 for years 3 and 4). If more funds are needed, the private student loan market is one option for funding the student’s remaining balance. In most cases, parents/guardians will have to co-sign for these loans. There are several private student loan companies out there. My favorite, however, is Juno. Juno is a group of more than 200,000 students and parents who work together to make lenders reduce the cost of student loans. You can join for free to access their deals and prepare for future payments. It takes less than a minute to join, and there is no fee or obligation. To recap: Step 1: Ensure your student is applying to as many scholarships as possible to reduce the cost of college. Step 2: Complete the FAFSA to get access to federal student loans, as well as grants and work-study, if eligible. Step 3: Compare the best rates and terms for additional student loans from various providers, including Juno. ---------- Featured Scholarships: Kramer Law $1000 Safety First Scholarship $500 Odenza Vacations College Scholarship $10,000 American Lawyers Alliance Scholarship $1000 Altruism + Good Deeds Scholarship $5000 Christian College Scholarship $2,000 Protestant Faith-Based College Scholarship $2,000 Catholic College Scholarship $50,000 ScholarshipOwl No-Essay Scholarship
