The debt of America’s students
If you went to college, it is more than likely that you have some form of debt. Don’t get scared, you’re not alone.
If you graduated from college, it’s more than likely that you have student loans. You can have anywhere from 5k to 100k in student loans. According to Make Lemonade.com, if you are a graduate of the Class of 2016, the average student loan debt is $37,172. This makes you ask yourself if your education is worthing.
There are over 44 million students who are in debt by student loans and, according to CNBC.com, the total student loans debt is now $1.34 trillion.
Going to college is becoming more and more expensive by the year. By the time some of us finish up with bachelors or master degree that’s almost equivalent to a down payment on a home. “The rise in student debt is potentially a bigger concern, because it has been going on for more than a decade with no end in sight,” states Michael Pearrce, U.S. economist, Capital Economics.
After college you have to figure out how to pay all that money back and have enough money to pay your other bills.
One way to pay off your loans is to pay the principle early, rather than the interest, according to money.CNN.com. Thus, you have to start early to get a part time job, while in school, and start to pay principle before leaving college. Another way you can balance your student loans off after college is to call your loan provider so that you can make affordable payments. Some recent grads even go back home to live with their parents even though that’s not ideal for either party, but it’s a way to have a job and afford some minimum payments.
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