| When It Comes To Student Loan Debt... You're Not | | | | wage garnishment and the withholding of tax refunds. |
| Alone! | | | | I truly believe it is time for college students and |
| Escalating college tuitions are making student loan debt | | | | graduates to rally together and establish a grassroots |
| an eerie fact of life for students everywhere. The | | | | organization that lobbies for student loan reform. |
| average cost of tuition for 4-year colleges has more | | | | Unless that happens, the powers that be will gladly sit |
| than doubled over the past 30 years. By the time you | | | | back and watch as the student loan debt meter |
| add up the cost of tuition, plus room and board, the | | | | continues swelling to epic proportions. |
| cost of attending a private college hovers around | | | | If you are having challenges with paying your student |
| $29,026 per year and around $12,127 at four-year | | | | loan, there is help with nonprofit organizations such as |
| public universities. Consequently, debt from educational | | | | American Student Assistance. They offer outreach |
| loans has reached overwhelming epic proportions. As | | | | and education, loan repayment counseling, budget |
| we face these uncertain economic times, more | | | | planning, information on repayment options, and even |
| individuals are feeling the pressure of the costs of | | | | help for borrowers who have defaulted on their loans. |
| education. | | | | If you have federal loans through the Direct Loan |
| The facts don't lie; graduates are having a hard time | | | | program, you may qualify for an income contingent |
| coping with debt and are in need of debt relief. The | | | | repayment plan. Or, if your income isn't sufficient to |
| percentage of Americans with outstanding student | | | | repay a federal loan, you can apply for an economic |
| loans that say this debt is preventing them from | | | | hardship deferment or forbearance, which would |
| making major purchases, such as a house or a car is | | | | suspend or reduce your monthly payments. Just bear |
| increasing. Thirty percent of those polled say their | | | | in mind that the interest will continue to multiply on |
| student loan debt is a major burden. Once an individual | | | | student loans that are not federally subsidized. The |
| becomes part of the student loan abyss, they must | | | | important thing is to act now! Don't wait until action is |
| tread lightly. If this debt is not managed properly, it can | | | | taken against you. To determine if you qualify for any |
| not only lead to bad credit, it can also lead to loss of | | | | these programs, check out the website Finaid. |
| eligibility for future federal aid, and the possibility of | | | | |