By JENNY SHARP 

Student debt is often deemed a looming financial crisis with no bailout in sight. 

With student debt at $1.2 trillion in 2013, the financial burden of finishing college has reached a zenith extending beyond graduation.

But student loan applications are as baffling as they are expensive. There are federal loans, private loans, subsidized and unsubsidized, consolidation, forgiveness, cancellation and more.

Resources to navigate the logistical quagmire of personal finances are available. The University Neighborhood Housing Program (UNHP) and Northwest Bronx Resource Center is hosting a student loan resource fair on Feb. 24 aimed at offering students and graduates tips to manage debt.

One trick for students is to develop a student budget, according to Brian Bier, a financial coach scheduled to attend the event. “Taking consideration of their parents’ financial situation can prevent headaches in the future,” said Bier in an email. “Apply for all the scholarships out there. Even the very low amounts can help. CUNY and SUNY colleges provide a great education and can save you lots of money.”

Budgeting can certainly work as a long-term strategy that helps avoid the pitfalls.

“A lot of times people apply for these student loans thinking that it’s not as serious as it really is and then come time for graduation they are faced with an enormous amount of debt,” said Nikki Quiterio, an event organizer at UNHP. This combination of naivety and a shortage in disposable income has led to 7 million student borrowers to default on their loans, causing credit issues in the long run.

The event, “Paying for College: Before & After,” runs from 6 to 8 p.m. at the Concourse House– 2751 Grand Concourse. Representatives from Bronx Legal Services, New York Immigration Coalition, and The Financial Clinic will be available to offer insight in the entire loan process.

This resource fair is part of a larger mission of UNHP, a 30-year community-based group that offers wide-ranging advice to Bronx residents. Each Tuesday and Wednesday the group’s financial resource center is available by appointment. “It’s important to realize that maybe the solution for one person isn’t necessarily the solution for another person,” said Quintero.

Student loans have the potential to be good debt if managed correctly, said Jumelia Abrahamson, director of Northwest Bronx Resource Center.

“There’s a fine line between making student debt good and favorable to being too overwhelming,” said Abrahamson. The key to balancing the potential benefits and disadvantages is knowledge. To RSVP to “Paying for College: Before & After,” visit unhp.org/events.