The Importance of Student Loans
While recent economic times have proven difficult for many families, politicians on both sides of the aisle agree on one essential step the country must take: supporting students with higher education that helps them secure high paying, growth positions in the workforce. Still, it falls on families and students to pursue pathways such as scholarship assistance and financial aid that reduce the cost and future burden of this essential investment.
In October 2011, student loans made headlines across the country, as for the first time in U.S. history, it was reported that Americans owed more money in student loans than on credit cards. And while alarming, since this date, the student loan debt problem has only gotten worse for aspiring young people and their families.
From 2006 to 2011, it was reported that students and graduates had doubled their total outstanding higher education debt. In March of 2012, student-loan debt hit another milestone, when earlier estimates were toppled and this figure passed the $1 trillion mark.
These statistics suggest that many Americans are making their higher education decisions without the necessary guidance, as with the help of dedicated financial aid consultants, parents and students can make paying for college easier and more affordable.
At College Financing Group, our team of dedicated experts have decades of experience helping many students, graduates and families in the New York area and nationwide make informed decisions that help them reduce the cost of college and pay down debt.
How College Financing Group can help you borrow responsibly
When it comes to extensive student loans that need to be paid over a period of years, even small changes can make a big difference. For instance, securing lower student loan payments through loans with more attractive interest rates can lead to hundreds if not thousands in savings for student borrowers over the life of the loan.
At College Financing Group, we can explain and answer questions about how parents and students can best navigate:
• Annual loan limits
• Interest rates
• Student loan terms.
Further reducing the time and stress associated with the process, we offer online assistance with loan applications, helping parents and students complete the necessary paperwork and counseling on their schedule.
Loan repayment challenges
While plenty of financial institutions offer private education student loans, none of these entities provide substantial help with the process. After signing the loan agreement, family members and relatives are often left to draft their own payment plans and make decisions without understanding their full long-term financial implications.
At College Financing Group, we offer guidance and advice to this predicament for current students and graduates. Our experts are well-versed in all aspects of:
• Income-based repayment
• Loan deferment
• Public Service Loan Foregiveness
• Student debt consolidation.
How College Financing Group can help
While college lasts four years, the repayment process can extend for 20 to 30 years. As such, it can be beneficial for families and students to secure a helping hand through loan repayment plans that ensure they are taking every possible step to ensure their future financial earnings and peace of mind.
At College Financing Group, we understand the full scope of the challenges that students face in this market and can explain financing and student loan repayment options in easy-to-understand terms.
For more information about how our low-cost solutions can help you or your student with your student loans year-in and year-out, call our friendly, knowledgeable representatives today toll free at 1-888-234-3907.