Last year, college seniors graduated with a degree, a well-paying job (hopefully), and an average student loan debt of $29,200. No one is surprised by the high debt burden, as soaring college costs have been well documented. While a college education is a worthy investment, this kind of debt is a heavy burden for someone that is 22 or 23 years old.
This week we review some of the ideas covered in our October newsletter to clients, where we offered several ideas that can help bring your student debt loans, or any debt burden, under control.
Obviously, there is no magic formula. Debt is debt, it accrues interest, and lenders expect to be repaid.But if you set a goal, map out a plan, and stick to the blueprint, you’ll be surprised at the ground you can cover.
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Music Attribution: Hopeful Start by John Bartman, License CC BY-SA 4.0 (Attribution-ShareAlike License)
