Nov 10, 2016 08:43 AM EST By Emily Marks, UniversityHerald Reporter

Students need to organize a lot of documents, among other things, when preparing for college. This includes researching on student loans and applying for the programs that are best for them.

It was previously reported that the Nashville Barber and Style Academy, Denmark Technical College, United Tribes Technical College and New Life Business Institute are among the colleges with the worst student loan default rates. Rob Roy Academy, Capstone College and Larry's Barber College also made the list.

Understanding student loans also entails knowing the facts. It is a common misconception that student loan forgiveness is only given to people who work in public service. However, there are other ways for your federal loan debt to be wiped out.
USA Today College reported that a new study found how three out of four people find the student loan application process more stressful than applying to college. The study was conducted by Citizens Bank

It was noted that Americans aged 18 and older, which includes students and parents, found the process stressful. Moreover, more than half of the survey participants also revealed that they do not fully understand the student loan process because of confusing terminology and unclear paperwork.

81 percent of the respondents believe, though, that the process can be made easier. This is by giving applicants the chance to speak with a financial professional about the process. Most students claimed that they do not know where to begin with the application.

"Talking to someone who is experienced with the financial aid process is one of the best ways to be prepared and to alleviate the stress that comes from not understanding your options," Christine Roberts, head of student lending at Citizens Bank, said in a press release. "But many people don't think to ask their financial professional or banker for advice."

80 percent of millennials also revealed that more stress came after the application process. This is because they worry about how they will be able to pay back their loans.

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