Those tools include the federal Financial Aid Shopping Sheet, in which 2,000 participating institutions including the University of Delaware and Delaware State University offer to help students compare schools based on the financial aid package they receive.

“It tries to simplify the information students receive about the costs and ancillary aid students receive so they can lay down the shopping sheet of UD against the shopping sheet of another institution and make that informed decision in a way that clearly breaks out aid they don’t have to pay back, and loan borrowing,” Lucier said.

A similar tool all colleges and universities are now required to provide on their websites is a net price calculator, which estimates a student’s eligibility for financial aid and all expenses associated with getting a degree, not just tuition and fees.

While those tools can help, figuring out exactly how much a school will cost and how much monthly student loan payments will be still requires a lot of research and planning.

Lucier said the University of Delaware received close to 20,000 applications over the past year, while less than 4,000 visits were logged to its net price calculator.

“When you’re 17 you’re not always in the best position to make plans,” Best said. “If you go to the student union on any college campus, you’ll see a card table set up where banks will give you a free dictionary or a free T-shirt for signing up for one of their credit cards. Meanwhile, in the next building over, the admissions office is helping these students take out thousands of dollars in student loans. “

“It is really important to understand what short term loans in Alaska type of student loan that you have,” Lavoie said, “and if you’re having trouble, to talk to your servicer, and select the repayment plan that’s best for you.”

Another option for federal loan borrowers is forbearance, or a “temporary break” commonly given during the transition from school to a new job. It’s only recommended as a last resort, Lavoie said, because it extends the loan and increases the amount owed.

The most important thing one can do, experts agree, is to call the company serving the loan for a candid discussion on a path to solvency, said Nikki Lavoie, a spokeswoman for Wilmington-based Navient, the nation’s largest servicer of student debt

Debtors who work for the federal government or a quasi-governmental agency such as Amtrak can take advantage of the Federal Student Loan Repayment Program.

On the one hand, we say these students are too young and inexperienced to sign up for a credit card, but we think nothing about having them borrow for their education

“The government will actually pay off to up to $60,000 worth of your federal student loans, up to $10,000 per year,” said Lynnette Khalfani-Cox, author of “Zero Debt for College Grads.” “What’s the catch? You have to work for an agency of the federal government.”

With Decision Day fast approaching, Khalfani-Cox will speak about cutting college costs during a free presentation Tuesday from 6 to 8 p.m. at the Chase Center on the Riverfront, courtesy of the Delaware Financial Literacy Institute’s The Money School.

Under certain circumstances, loans can also be forgiven. Multiple options exist for loan forgiveness parental loans excepted but all forgive the loan balance after periods of time ranging up to 25 years. But this option can result in serious tax consequences, experts warn. For those in pay-as-you-earn programs. For instance, the amount of forgiveness counts toward taxable income in the final year of repayment.