| College loans for students are considered by many | | | | studies. Courses of study such as medical school, law |
| students to be the only way to be able to finance | | | | school or other programs may make working almost |
| their way through post secondary education since | | | | impossible, leaving these students with fewer options. |
| scholarships, which don't need to be paid back, don't | | | | In most cases student loan debt is relatively easy to |
| cover the full cost of tuition, books and living | | | | manage and various programs offer deferred |
| expenses. Typically student loans are in important | | | | payment dates and other options to help graduates |
| factor in deciding what college or complete a four | | | | get on their feet in the workforce before loan |
| year degree owing about $19,237 in outstanding | | | | payments are required. Unfortunately many students |
| student loans. This number is from the National | | | | don't manage or understand the student loan |
| Postsecondary Student Aid Study and was from | | | | repayment process and they end up defaulting on |
| data collected in 2003-2004. There is approximately | | | | the loan, resulting in different consequences |
| 66% of all students in college level graduating classes | | | | depending on the terms of the loan. |
| that will have at least this level of students loans to | | | | In some cases a loan forgiveness program that is |
| repay when they graduate, with the other 34% | | | | based on volunteer work with specific organizations |
| either debt free or owning debts that were not | | | | or even military service may be an option for |
| taken out as specific student loans. | | | | students that want to pay off student loans without |
| Typically a graduate level student will have | | | | actually having to pay the money directly to the loan |
| significantly higher levels of student loans, however | | | | company. Working in these programs not only pays |
| they will also be earning a higher income upon | | | | off the loan but it also helps develop a resume and |
| graduation. The range of additional debt for graduate | | | | provide real world work experience. These programs |
| students is between twenty seven and one hundred | | | | tend to focused on humanitarian type volunteer |
| and fourteen thousand dollars over and above that | | | | settings but may also include areas of specialization |
| of a bachelor level graduate. It may be difficult for | | | | depending on your degree and interest in working in |
| graduate students to fully fund their graduate | | | | different areas. To find out if you would qualify for a |
| programs and classes solely on student loans, so | | | | loan forgiveness program talk to your financial |
| many choose to work or to complete graduate | | | | department at your college or university or contact |
| courses on a part-time basis to spread out the | | | | any community based human resource of |
| payments and partially or fully fund their graduate | | | | employment agency. |