| Unfortunately many college students are finding | | | | help to pay off student loan debt. |
| themselves in massive debt after graduation. College | | | | Work Trade |
| is expensive and more and more people are using | | | | Another option to pay off student loan debt is with a |
| student loans to not only pay for their education, but | | | | work trade. The federal government, on top of their |
| living expenses as well. Although this is great to help | | | | grant program, is also offering a work exchange. |
| get you through school, once school is over the | | | | There are several areas where you can work to and |
| weight of those debts comes due. This forces a | | | | have your student loan debts paid off. For example |
| student who has not even started working in their | | | | of you work in a low income area at a school, or as |
| profession to have to determine how to pay off | | | | a public service person you can have your student |
| mounting loans. | | | | loans forgiven. This is a little known program that is |
| With debts come due and a substantial income not | | | | readily available. Part of the government grant |
| yet coming in many new graduates feel like they | | | | process will allow for you to state if you are doing |
| have nowhere to turn. With the current economic | | | | this sort of work, or if you would be willing to. If this |
| situation this issue is only escalating. The good news | | | | is something you can or would do it will be much |
| is that the federal government has some things in | | | | easier to have your student loans paid off by the |
| place to help out the new graduation manage their | | | | federal government. |
| loans and get help if it is needed. | | | | Consolidate First |
| Government Grants | | | | An important step before apply for the government |
| Depending on your specific situation it is possible to | | | | grant is to have your federal student loans |
| get a government grant, called an Income Based | | | | consolidated first. Taking this crucial step will not only |
| Repayment Program, or IBR, to pay off student | | | | help to save you money in the long run, but it will |
| debt. These grants can pay off part, and in some | | | | show on the grant application that you are taking all |
| cases all, of your student loans. Not everyone will be | | | | the steps you can to save you money and pay off |
| approved for these grants. It is a simple application | | | | student loans. |
| process, but in that application you have to show | | | | Application |
| how paying off your loans would be a financial | | | | It is up to the student to prove the burden of the |
| hardship, if not impossible. The federal government is | | | | debts so it is very important to make sure to keep |
| really focused on helping people get out of debt, so | | | | very good track and records of your payments and |
| now is the time to apply for one of these grants and | | | | income situation. |