The Student Loan Debt Bubble – Infographic
The federal government started guaranteeing student loans in 1965. The program, which is still around today, was called the Federal Family Education Loan or the FFEL program. But the first federal student loans were given in 1958 under the National Defense Education Act of 1958. These college loans were made with U.S. Treasury funds. Over time a lot of changes have been made in how the government deals with these education loans.
How to Manage the Cost of a University Life
With students facing huge increases in tuition fees, it makes sense to focus on how you’re going to manage your finances at university at an early stage. Having some strategies in place could help to keep your overall debt to a minimum and leave you free to enjoy the experience. Tackling the issue of trying to avoid too much debt could see you leaving the university and joining the workforce with fewer financial hangovers.
Read MoreTop Sources of Financial Aid for Women Returning to School
Women often find themselves in financial situations that they did not expect; for example, a woman who desired only to be a stay-at-home mother finds herself widowed at an early age or must make up for lost income when her spouse gets laid off or has difficulty finding work. At times like this, women, especially those with children, may find themselves on the brink of panic. This is a normal reaction, but women in this predicament may have more options than they think. Some should consider taking this time to train for a vocation that will give them and their families the financial security they need for the future.
How to Get Free Money for College
While costs of college tuition continue to skyrocket, state and federal governments have been working to make money available to make a university education a little more affordable. The average tuition at public colleges rose 8.3 percent in 2011 and now exceeds $17,000, including room and board. This is a major reason about a third of students at major universities seeking a bachelor’s degree fail to finish. Due largely to this decrease in college completion rates, the U.S. federal government last year made $50 billion in grants available to college students. Finding these grants is not as easy as finding student loans, but they are available for those who know what to look for and where.
Read MoreHow to Manage Your Student Loans Without Them Managing You
If you’re about to graduate, or if you’ve recently graduated, chances are that you’ve got some kind of student loans. Learning how to manage these college loans so they don’t negatively affect your life is an important part of your post-graduate future. While paying them off as soon as possible is the ideal way to deal with student loans, that’s not an option for most people. The next best thing is to learn how to manage your student loans in a financially positive way. Below, a few tips for handling your student loans after you graduate.
Read MoreReal College Student Budget
It’s easier than ever for today for college students to be flat broke. With tuition climbing at Universities nationally and students unable to get all of the money they need from student loans, an increasing need for students to have access to technology, many college students don’t have much left over every month. Only 43 percent of university students earn around $757 a month from jobs and their parents.
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