Laws regarding college loans have gone into affect early July as a result of the negligence of students in repaying their debt post graduation. Studies conducted indicate that college students aren't keeping track of their debt during the duration of their studies. Thus comes about the law putting restrictions on acquiring financial aid and borrowing toward college costs.
Colleges in states such as Florida are requiring the responsibly of a college loan to be similar to that of a car or home loan. With close to $1.44 trillion in student loans outstanding from the months of January to March of 2017, perhaps we need to find a way to "prepare the nests" of these young individuals so that they can have a proper nest to lay in.
Mark Herschlag of Cosmo Insurance strongly recommends Juvenile and Whole Life Insurance Policies as a form of saving toward college and other unforeseen expenses. Putting money aside for the future is always a good move, especially when done early on, the interest can be used toward college, convertible LTC insurance and health related expenses.