For those coming out of prison, college loans can be an important first step in the re-entry process. However, an incredible amount of caution is urged. There has to be clarity on the purpose of college as well as an exit strategy.
For the most part, those coming out of prison and going to college can be well served by taking out a loan that will me all living expenses for the first semester. That will enable a person to complete the transition with minimal distractions and also establish good steady habits and acclimatize to college life.
It is during this period that those coming out of prison would be well served to start a job search that will meet their living expenses and this will minimize the amount required to barrow to what is needed to meet college expenses.
Judicious planning will enable the student to avoid the expenses of a car. Looking for residences and jobs along routes that have ready access to public transport supplemented by a bike will take a big bite out of cost of living. Too much cost of living can be a major distractor in studies.
Many colleges have multiple campuses that will have a host of entry level classes and once these are completed then the student can look for a job and living arrangements that will accommodate the new campus.
Those that have been to prison know they can live out of a drawer and as such not be as inclined to get caught up in the purchase of a lot of unneeded junk. The one purchase that needs to be well considered is that of a computer. A computer and software that will support college courses is not the same as a gamer’s computer.
There are a lot of good points in the linked article on college loans that worth incorporating into any strategy for taking out college loans.
Fed: Student loans soar 275% over past decade