The cost of education has spiraled out of control in recent decades. It’s easy to get in over your head. Today on MoneyWise, Art Rainer joins us to talk about 6 misconceptions that lead to big student loan debt. Art Rainer is a MoneyWise contributor. He has written many books on biblical finance, and he is vice president of The College at Southeastern. According to the Education Data Initiative, the average college graduate leaves school with around $40, 000 in student loan debt. And the majority of students will use debt at some point while pursuing their degree. This isn’t purely a function of costs. Sometimes, students are taken in by incorrect lines of thought that lead to a lot of debt. So if you are a student, you really need to avoid these misconceptions. Art Ranier recently pennedan article at MoneyWise. orgro help you with this titled: 6 LINES OF THOUGHT THAT RESULT IN SIGNIFICANT STUDENT LOAN DEBT 1. Attending a costly school will get you a better job. Higher tuition does not always equate to higher salaries. Employers don't look at the amount you paid to get a college degree. They just look at your degree. And after your first job, where you went to school starts to take a back seat to your prior work experience. Find a school that makes financial sense for you. 2. You need the college experience. There’s nothing wrong with enjoying your time in college, especially if it works with your finances. But more and more students are realizing that having the college experience is not worth having the college debt, so they’re getting jobs to help offset tuition costs so they won’t still be paying on student loans 10 years after graduation. 3. It’s ok to stretch out college. Certainly, there is some leniency here, but be very careful when choosing to stretch your degree program. You may end up paying more, and you run a greater risk of not completing your degree. And don’t take throwaway classes. Make your investment worth it. 4. You don’t need to know what you’re signing. You should educate yourself on student loans. Before you sign any papers, understand the commitment involved, what it’ll take to pay off the loan and what alternatives are available. You’ll need to understand your loan when you’re paying it off, so you better understand it before you sign. 5. Everything will take care of itself. Student loans are stubborn things. They even survive bankruptcy. I’m less concerned with the student who feels burdened by their loans than the one who feels no burden from their debt. Unless you manage to get through the obstacle course of a debt forgiveness program, and that’s not easy, your loans will have to be repaid. 6. There’s no other option. Without question, the cost of higher education is a formidable challenge for many current and future college students. But this doesn’t mean there aren’t other options. Diligently pursue scholarships and grants. College costs today are skyhigh, much more than your parents experienced when they were in school. On today’s program, Rob also answers listener questions: ●Is a Roth 403b the best investment vehicle for an educator? ●What should you do with credit card accounts of a deceased spouse? ●Should you hold off on giving behind the tithe until debt is paid off? ●How big of an emergency fund should single mother keep? ●When does it make sense to use liquid cash funds to pay off a mortgage? ●What happens to an IRA account of a deceased member when there is no beneficiary listed in a will?