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Can Even a Full-Ride College Athlete End Up with Student Loans?

by | Jun 4, 2014 | Student Loan Debt, Student Loan Debt Settlement

Loaded with Student Loans and Scholarships

The myth is that student athletes get a free education. But in reality, even a full-ride scholarship typically only covers costs of tuition and fees – not housing and other living expenses. Many do not think they would need a student loan and scholarships. Most full-ride scholars, still end up borrowing to be able just to live, while they focus on their schooling, in cities throughout the US. In a city like San Francisco, these uncovered costs can be even more exorbitant and force the student athlete to take on additional loans.

As a Forbes article pointed out, “Many student-athletes are of low socioeconomic status and have to take out large loans to pay for living expenses during college.” Yet the universities make millions off these same athletes, and they get loaded with student loans and scholarships that do not cover their living expenses and other needs at college.

If you are saddled with private student loan debt and sick of making payments that don’t decrease your principal and only go toward interest, then call a debt settlement attorney. Our firm is experienced in negotiating with private student lenders and can negotiate a settlement so that your money is going toward actually getting rid of the debt.

 

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Kevin Fallon McCarthy

Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.