The Wall Street Journal Blog had an interesting post I encourage you to read.
Here are a couple points they noted about student loans in America:
- According to figures released Thursday from the Federal Reserve Bank of New York, the amount of education loans outstanding nationwide, which has increased every quarter since the New York Fed began tracking these figures in 2003, rose $33 billion to $1.027 trillion.
- The share of student-loan balances that were 90 or more days overdue rose to 11.8% from 10.9%, even as delinquencies on other debts dropped.
- Student-loan balances have roughly tripled since 2004, and roughly 9% of all consumer debt is now student loans, up from 3% a decade ago.
The post talks about recent graduates and the fact that their student loan payments are about to begin.
They also had a set of questions at the end of the post designed especially for 2013 graduates. Here are two of those questions:
How much do you plan to pay toward your loan per month?
When do you anticipate that you’ll be done paying off your loans?
How would you answer those two questions?
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