It looks like the last two weeks have unintentionally turned in to the "Student Loan Hour" here at the Financial Aid Finder. Earlier this week, I covered the New York Times piece on student loan debt. Five experts sounded off on the question, "How much student loan debt is too much?" (Did you answer that question for our student debt poll on Tuesday? Please do that now if you … [Read more...] about Reader Question: Student Loan Income Repayment Option
student loan debt
How Much Student Loan Debt Is Too Much?
How much debt is too much debt? It's a question that anyone taking out a student loan needs to grapple with. According to a series in the New York Times a while back, the average debt load for a graduate was $20,000; students attending private colleges took out an average of $25,000. Those amounts have gone up... But how much the average student carries in debt isn't … [Read more...] about How Much Student Loan Debt Is Too Much?
Dealing with Student Loans After Graduation
Congratulations! You graduated from college! After the ceremony, parties and excitement have wound down, and you're settling into your new situation, you may find yourself reflecting back on college life. If you were the average college student, part of your college experience included accumulation of student loan debt. Here are some tips that might help you prepare for the … [Read more...] about Dealing with Student Loans After Graduation
Warning to Students with Loans: There is a Limit
Not long ago, a New York panel of judges ruled that a man with $400,000 in student loan debt didn't deserve to be an attorney. The accrediting board determined that his heavy student loan burden disqualified him from being a lawyer. (Of course, without the right to practice, how that man is ever going to earn enough to pay off his nearly half a million dollars in loans is … [Read more...] about Warning to Students with Loans: There is a Limit
In the News: Student Loans Jump 25% in 2009
The U.S. Education Department recently released numbers showing that the total amount of money borrowed by students in the 2008-2009 grew by 25%, to $75.1 billion, over the previous year. The number has been rising for many years, but this bump is the largest on record. The deputy undersecretary of the Education Department, Robert Shireman, has said that this increase was … [Read more...] about In the News: Student Loans Jump 25% in 2009