Student Loans

Student Loan Debt

The price of attaining a college degree has steadily increased over the past few decades.  

Today, roughly 70% of students take on debt in order to attend college. The Department of Education reports that it takes the average person with a bachelor's degree 21 years to pay off their student debt at a rate of $383 per month ($96,516 in total). 

In some cases, after making 120 qualifying monthly payments, your student loan can be forgiven, but student loans are notoriously hard to pay off. These few specific cases that allow your loan to be forgiven include pursuing a career in public service or certain income-driven-repayment plans. 

How to limit your student loan debt 

Here are a few of the best ways you can limit your student loan debt: 

• Attend a junior college for two years before transferring to a 4-year university

• Take more classes so you are able to graduate early 

• Seek employment with student loan repayment assistance

• Apply for scholarships and financial aid

• Apply for public service loan forgiveness