Would you hand a teenager that doesn’t even have a bank account a check for $50,000 and walk away confident that it would be spent wisely? That’s essentially what we’re doing to high school seniors when we ask them to navigate the financial burden of college. 

Melissa Fries, executive director of CAP, a college success program in San Francisco, argues in EdSource that a lack of financial guidance is a large part of the reason only 9 percent of low-income students graduate from college by age 24.

The current model of advising—getting kids into college—overlooks the need for helping kids stay in college, she says. And although most high school counselors are overburdened, community organizations can play a key role in helping kids and their families understand what they’re getting into when it comes to loans.

When students and their families have a clear picture of what their financial situation is, it helps them make smart choices. Many students end up dropping out of school with no means to repay loans, and that debt keeps them from finishing their education at another, more affordable school.

The FAFSA application is where it all starts. Low-income students rarely have resources at home to help them understand the form, Fries says. Financial advising can also help them navigate the College Scholarship Service (CSS) Profile. Laying out the numbers to fully understand the burden can help them choose a school they can afford, and will dramatically increase their chances of success. Because while that $50K school might look good on paper, it’s a whole different matter when it hits your bank account.