We are at a point when student loan rates are the lowest they've ever been. Graduates have until July 1 to refinance or consolidate their loans into phenomenal rates. Unfortunately, there is an unpleasant side to student loans. Students used to never consider student loans as real obligations, and this forced the government to absorb billions of dollars of debt. To correct the problem, the government decided to give student loan collectors tremendous power. Now, student loan collectors are allowed to collect money from you without ever proving that you owe money. The Wall Street Journal reported that a current tactic of loan collectors is to look for terminally ill people who owe student loans. Terminally ill patients receive disability checks, which the student loan collectors are allowed to seize. They basically leave these people without any money before they die. About 40% of college graduates delay buying a home because of their student loans. An answer to student loans is attending junior or community college for your first two years. Sending your kids to a junior or community college first will cut down on their debt dramatically.