How the Student Loan Debt Crisis Affects the Economy

In the year 1973, there was a fundamental change in the student loan industry. That change was the founding of Sallie Mae. Under Sallie Mae, student loans became easier and easier from prospective university students to receive funding. This ease of funding caused an explosion in student loan debt. Between the years 2006 and 2016, student loan debt grew an incredible 170% from about $400 Billion to over $1.3 trillion.

How student loans effect you

There have been several studies that have shown that student loan debt affects your personal life, just like it affects your financial life. In the case of men, student loan debt shows little to no effect on marriage, but there is a correlation between increased student loan debt and unlikeliness from young women to get married.

Many

By |2019-06-27T00:25:59+00:00June 27th, 2019|Student Loans|0 Comments

Bernie Sanders’ Proposed Student Loan Forgiveness Plan

If the student loan forgiveness bill is passed, then the following would go into effect. The Secretary of Education would have 6 months to cancel all outstanding student loan debt that the federal government provides, insured, or guaranteed. This bill would also grant the Secretary of Education the authority to purchase the outstanding loans from private lenders. The program would get private lenders to sell to them by paying off all unpaid portions of the debt including principal, interest and any late charges.

How it will affect the average American

43 million Americans owe money to the federal government due to student loans. The total amount of federal student debt is $1.4 trillion. To those Americans with just federal student debt, their loans would all be forgiven. This will allow those

By |2019-06-25T23:56:06+00:00June 25th, 2019|Student Loans|0 Comments

How To Get Rid of Your Student Loan Debt Fast In 2019

A growing number of people get student loans as they don’t have other means to pay for college fees. While no one can argue that getting a loan is a necessity for many people, it’s also unquestionable that student loan debt can put the future of many people at stake.

No one likes to be under the burden of debts, so people adopt different methods to get rid of them. Some try to find a shortcut and use illegal ways to pay their loans and or do shady business. While there are minor chances that they would be able to pay off their loans, there are huge chances they would fail and end up in jail.

You don’t need these methods to get rid of your student loan debt, as there

By |2019-06-28T12:11:38+00:00June 4th, 2019|Student Loans|0 Comments

Burger King Announces A Challenge To Pay Off Student Loan Debt

Going to college is everyone’s dream; paying college debt? Not really. American students are carrying the weight of a massive $1.5 trillion in student loan debt. 2 million students graduate every year with an average of $33,000 in college debt. Many students graduating with minimal to no experience in the job field are finding it challenging to find a job to keep up with their student loan payments. With healthcare and basic needs expenses going through the roof, the burden of these loan payments are getting to be too much to bear for some. So Burger King has decided to host a contest to help a few fortunate students to get the load off themselves and pay off their outstanding student loan debt.

Burger King is sponsoring a $250,000 contest

This

By |2019-06-24T05:01:25+00:00May 30th, 2019|Student Loans|0 Comments