If there's one thing that most consumers can agree on, it's that student loan debt is awful. Not only is being saddled with student loan debt after college a nightmare, but it's become a nationwide problem. According to the Federal Reserve Bank of New York, total student loan debt in this country is now over $1.3 trillion.
If one of your family members graduated from college in 2016 with a student loan-financed education, they would probably owe approximately $37,000, with average monthly payments of around $351. If you'd like to avoid this for your loved ones, you'll need to plan ahead. Here are the steps you can take to plan ahead for college and avoiding costly debt.