Thursday, 29 May 2014

About Today: What You Need to Know About Student Loans

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Call it graduation season all you want -- it might be more accurate to call it debt season. Around the country, high school graduates are gearing up to take out massive loans to finance their college education. And college grads are beginning to grapple with the monumental task of paying off all that debt. Fortunately, we've got some tips on managing your debt load... or to avoid getting into too much debt to begin with.

Can You Do Without a Loan?
Before you even try to get a student loan, first see if you can find a way to finance your education without saddling yourself with a load of debt. Yes, there are a number of alternatives to taking out loans, from scholarships to tuition reimbursement. And you can also find ways to get a less-expensive education...
Search Related Topics:  pay for college  work study programs  scholarships

What Sort of Loan Should You Get?
Even after applying for scholarships and financial aid, you may still find that you need a loan to make your higher-education needs come true. For starters, you'll want to first look into federal student loans before moving on to privately offered loans. Here's a basic overview of where to start.
Search Related Topics:  student loans  fafsa  government loans

Managing and Paying Off Your Loans
Congrats, college grad! Once you've landed your first job, you'll need to put together a plan to pay off your education bill. The good news is that you've got a whole litany of loan-repayment optionsthat will allow you to pay off your loans on a manageable schedule.

What Happens if You Can't Pay?
Hey, we get it. The job market isn't always easy on fresh-faced college grads, so you might not have the scratch to pay off your bills right away. Unfortunately, it's not a simple matter of just declaring bankruptcy and starting fresh, but you do have some options for loan forgiveness if you're truly unable to pay up.
Search Related Topics:  student loan forgiveness  repaying student loans 


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