What could be considered the last resort when financing education?

Loans are often considered the last resort for financing education because they require repayment, typically with interest, which can lead to long-term financial obligations. While scholarships, grants, and work-study programs provide funding that generally does not need to be repaid—making them more desirable options—loans can significantly impact a student's financial future. Students who use loans as a funding source may face challenges in repayment after graduation, especially if they encounter difficulties finding employment or earning a sufficient income. Hence, loans are usually recommended only after exploring all other financial aid avenues, making them the final option in the hierarchy of education financing.