As high school seniors wrap up their classes and graduate next month, many will be looking forward to going to college in the fall. There are so many things for them to consider: determining whether to attend community college or a four-year college, weighing housing options, picking a field of study and selecting core classes to take the first semester. However, even a bigger decision is looming for their parents: How to pay for all of it?
Student loans certainly have been in the headlines as of late. If you “Google” student loans in their news section, more than 187,000 stories pop up.
One of the biggest headlines is how student loan debt surpassed credit card debt in 2011. A new analysis from the Federal Reserve Bank of New York found that Americans had a total of about $870 billion in student loan debt in the third quarter of 2011, with overall student loan debt reaching $1 trillion!
Also, people are trying to understand the pending increases in student loan interest rates. Sandra Block, personal finance editor for USA Today, reminds her readers that, while the interest rate for some new federal loans is scheduled to increase on July 1, the emphasis is on some new loans.
GreenPath Debt Solutions recognizes that it can be a trying time for any parent facing the daunting task of understanding student loans.
In order to address pressing questions that its counselors hear every day, GreenPath is hosting a Managing Student Loans webinar on May 30 at noon EST, in a special edition of its “Webinar Wednesday” series.
Participants will learn about options for financing education, the difference between private and federal loans, repayment options as well as options for borrowers who are struggling or in default (including some of the new loan forgiveness programs). The hour-long webinar will offer some solid information to help you make the best decision possible when it comes to student loans. You will also have plenty of opportunities to ask questions.
Click here to sign-up for GreenPath’s special Webinar Wednesday – Managing Student Loans.