PAY AND DOWNLOAD:
When we talk about college graduation, several promising life changes occur in
our minds – potential careers, independence as well as new beginnings.
However, although it means beginning of something, it still signifies something
less enjoyable too – the repayment of student loans.
As you all know, the repayment of ample student loans can be off-putting for both
students and their parents. It was found out by the Public Interest Research
Group in the US that the average debt among student borrowers is currently in
excess of $16,500. That large! The Associated Press also noted that graduates of
public colleges and universities usually emerge owing more than $10,000 for
their undergraduate years alone. Those who are in private institutions typically
owe $14,000, while the graduate-level students often owe more than $24,000.
What’s more for those studying medicine or law? For sure, they accumulate even
more debt. And, the bad thing is, repaying these debts are even becoming more
difficult for graduates in the midst of uncertain jobs and the recession.
With the interest rates in all student loan programs are now at record lows, there
is no reason for the graduates not to consider student loan consolidation. It is
often said that with student loan consolidation, students and graduates can save
thousands of bucks in interest charges.
Now let us look at the things involved in student loan consolidation.
Student Loan Consolidation: A Definition