Student Loans?
My name is Peter. I’m 22 years old, I don’t have a lot of money, and I have a wife who just graduated from college. This is great - I’m excited for her achievement, as well as her new, increased earning power. In spite of all that, we’re a little worried – we now have to face a problem that a huge number of young people have to face: Student Loans.
The cost of education is ever increasing. According to the National Center for Education Statistics, just over 35% of all undergraduate students received student loans for the 2003-2004 school year, with an average loan amount of $5800, not including some types of loans, including Federal PLUS loans (which are technically in the parent’s name). Assuming that a student is able to graduate in 4 years, they are looking at a whopping $23,200 in student debt immediately out of college. As credit cards become increasingly available, especially to young people, these same students often find themselves carrying thousands in credit card debt.
Knowing that my wife and I are facing a problem that is far from uncommon to people our age is encouraging. We’ll pay the debt off and move on wiht our lives – unfortunately, we know very little about the debt. The specific loans, the actual amount owed, when it is due, and what the monthly payments will be – I don’t have a clue about any of this, and I suspect that many recent college graduates feel the same way.
I plan to find out. Our debt is large, so its certainly worth our time to learn everything we can about the situation and make informed, intelligent decisions about how to handle it. As I learn more, I’ll post it here – tips, information, how to find information relating to your specific situation, and more. Stay tuned, you just might learn something!
Related Posts:
Bankrupty Attorney Basics
... You typically have another obstacle when looking for the right attorney that deals with bankruptcy and that is the obstacle of personal pride. This makes finding attorneys by referrals very difficult since most people hide the fact they filed for bankruptcy or need to file for bankruptcy. ... Read More
How to Eliminate Debt and Invest for Retirement
... In most instances, people who have average income do not have adequate amount of cash in hand necessary to earn high interest rates, which high income earners fully take advantage of. You should explore the details and information regarding long-term and short-term retirement options online. ... Read More
Freedom Debt Management Inc Can Verify A Debt Group Scam
... You can get debt management (usually consolidation), financial consulting, and future financial planning services without paying a penny. FDM has a reputation of really helping people through the financial grime. Even more than that, they'll help you learn how to put yourself in good finan... Read More
Student Loan Debt Help
... Ill be focusing on these topics: Understanding your loans: When applying for student loans, most people don't look too closely at what they're signing up for, or what it means to them. With repayment dates years in the future, it seems like a great thing to think abo... Read More
