Wednesday 18 May 2011

oh my student debt

As millions of American families struggle to cope with college costs that are rising at twice the rate of inflation. This leads to on thing and one thing only..Student debt. Students don't have the time for a job due to their studying and forcing on school that by the time they do graduate, they are left with tens of thousands of dollars in student loan debt. We go to school for an education thinking it will get us a job in the future and all will be well. But that is not the case for many graduate students. people say that one should only borrow the money if your future career can help you pay it back overtime.

"I can see someone borrowing perhaps $10,000 a year if they're majoring in science, technology, engineering, mathematics, computer science or nursing," says Kantrowitz, the publisher of the FinAid and Fastweb websites.

"But I can't see borrowing that amount of money for a degree in art, or humanities, or sociology, because the jobs just don't pay as well for those fields of study," he said

There has bee a new repayment plan coming out soon for student with debts called income-based repayment in short IBR. this plan can reduce those payments and make them more manageable. I hope this plan does work so more student get really get on with their lives after graduating.

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