Tag "Student Loans"
In March, the U.S. government offered student loan holders relief from the looming crunch of repayments as unemployment rates surged during the beginning of the pandemic. Relief came in the form of a government-mandated automatic federal loan forbearance.
It’s difficult not to feel skeptical about college nowadays. Student loans dragging new graduates down; burnout millennials that can’t properly start their life as adults because of the low prospects for a good job. Times have changed and there’s no denying that college leaves a lot of people with a sense of regret.
If you’re interested in higher education, you are likely acquainted with financial assistance loans from the US government and private lenders. Student loan intricacies can be a major headache, but there are also some less-known facts that you can take advantage of.
Pew Research Center analyzed data from the Survey of Household Economics and Decision making done by the Federal Reserve in 2016 and came up with the following facts about student loans in America.
There are stories of students who have worked their way through college and managed to graduate without the debt. However, it is a small percentage considering that over 70% of college graduates leave college with at least $28,900 of debt.
You have the credit card, the student loan and the freedom to be responsible with yourself without the immediate obligatory parental permit –– well, at least that may be what it seems.
The reality is that if you can’t pay for your education yourself or get a full-time scholarship, you are probably looking into getting a student loan. The main purpose of this article is to provide information based on which you can decide which student loan is best for you.