Student loans for UW schools soar - WAOW - Newsline 9, Wausau News, Weather, Sports

Student loans for UW schools soar

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New statistics show the cost of going to a UW school is rising, and there are few options to manage the soaring prices.

Megan Conn, a student at UW Stevens Point, is frustrated because she has had to take out more loans, even though she comes from a family with a middle income.

"I think I'm going to be working a really long time after this to be paying them off," Conn says.

Conn's family helps her pay for rent and groceries, but they don't have the means to cover  her tuition.

"I don't come from a really rich family," she says. "Nobody's going to pay for my schooling, so I mean they'll help me along the way, but nobody's going to pay my tuition. I'm the only one who can pay."

Assistant of Financial Aid at UW Stevens Point Carol Scipior says its more difficult now than 10 years ago for students from middle income families to keep up with loans because of rising tuition costs.

"The indebtedness for our students have also increased about 70 percent," says Scipior. "While ten years ago the average indebtedness for a student graduating was 14,400 we're now seeing a figure of 24,400 ."

One solution Scipior suggests is for these students to have a change in lifestyle.

"Perhaps they can take steps to live a little more frugally, again like spending on credit cards."

Still, it appears that more needs to be done to deal with the rise is debt than just simple living, especially for Conn who works almost 30 hours a week part time.

"I feel like the majority of us are going to just have to do it," says Conn. "I don't really have a choice do I?"

Scipior also says students from middle-income families could look into outside scholarships and grants. But, Conn says that she may only be able to apply for one or two of them. 

At UW Stevens Point nearly 65 percent of their students take out a loan. Leaders say that number is much higher than 10 years ago.

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