If you or a student you know has applied for a student loan to pay for college, you may be familiar with the ever-popular entrance and exit counseling that goes along with said application. Sounds pretty good, doesn't it? You know, warn the students and parents of the consequences of taking out these kinds of loans? Helping a graduating senior set up a repayment plan? Oh, if only it were that helpful.

The problem I see with these kinds of counseling sessions is that they come from offices and personnel whose jobs rely on the placement of these loans. Did you see the sign on the door that says "Financial Aid Office"? If they don't place loans, they don't get the federal money to keep the school open and the salaries paid.

You would be well-advised to get all the information you can, then leave to get counsel from a disinterested party — meaning someone whose commission check or job security won't be at risk if you go for a two-year stint in community college.

I would like to volunteer my services. You can count on me to tell you stuff no one else will. Then you can make your own decision.

— A student loan should be your very last resort, not your first choice of funding. There are many ways you can get a fine education using the pay-as-you-go method. And as a bonus, you actually will appreciate your education and gain a profound set of character skills that will place you well ahead of your peers.

— You cannot see the future. I know you believe you will graduate and go to work immediately as a highly paid oceanographer, but stuff happens. You will change your mind a dozen times and, most likely, end up married with a couple of kids. And a big load of student debt.

— Unless you get one of the few subsidized loans (meaning the federal government pays the interest while you are in school), the day you sign that paper and get your student loan funded, the interest kicks in. You are not required to make payments while in school, but that doesn't mean you can't. You should pay the interest every month from day one.

— Leaving school with debt is like trying to swim while wearing full combat gear. Including boots.

Let me break this to you gently: There are no jobs out there for oceanography majors with an emphasis in multicultural studies. That's called a travel agent, and it does not require a college degree. If you want more, go to college to get an education, not a social life. Get a degree in a field that will pay you a living wage. Sites such as www.salary.com will give you a good idea on what you can expect.

You never will believe how hard it is to pay back money you've spent already. I hope you never have to learn that for yourself.

Mary Hunt is the founder of www.DebtProofLiving.com and author of 17 books, including "Debt-Proof Living." You can e-mail her at [email protected], or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. To find out more about Mary Hunt and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.