Is Student Loan Debt Really Such a Bad Thing

Consequences of Student Loan DebtAs of 2017, student loan debt is ranked as the second highest consumer debt category, with over 44 million borrowers owing a combined $1.3 trillion in the US alone. The average graduate in the class of 2016 left college owing $37,172 in student loan debt, with some students owing much more.With numbers like that, its no surprise that at least some people will default on their loans. But, did you know that the student loan delinquency or default rate is actually 11.2% and nearly That means more than one in 10 individuals with student loans have at fallen significantly behind, if not completely defaulted, on their student loan debt payments and one if every three is at least late when repaying their obligation.Delaying Major MilestonesSo, what do these debt loads mean for students like your child? It often means they have to put off other important things in their lives and may need more help from mom and dad to keep afloat.For example, 26 percent of Mi llennial college students expect to have to move back home after graduating to help make student loan debt payments manageable. And, the majority of students aged 20 to 26 dont anticipate having their student loans repaid until they are at least 35.Along with that, 31%of students expect to have to delay saving for retirement due to their debt obligations, and that could lead them to have to delay retirement if they cant make up the missing funds. In fact, a recent survey suggests the retirement age for college graduates has been pushed back to 75 years old!Further, 21% expect their student loan debt to delay when they get married and 25% wait to have children because of the burden.What Student Loan Debt Looks LikeIn most cases, students carrying an average federal student loan debt of $37,172 will have a mix of subsidized and unsubsidized loans. Currently, the interest rates for each loan type is 4.45% and 6% respectively. If your childs debt is evenly split between the two programs (which isnt necessarily going to be the case), that creates and average interest rate of 5.225%. So, for ease of math, we will use that interest rate for our calculations.Using the student loan debt information above, and suggesting your child uses the standard 10-year repayment plan, that means their monthly payment will be $398.37. Thats nearly $400! And, to make matters worse, theyll pay over $10,000 in interest!Of course, other repayment plans are available to those who are eligible, but it is important to see exactly what their debt load means, especially when it comes to the amount of interest being paid over the life of the loan.Credit ConsiderationsStudent loan debt doesnt just affect your childs cash flow; it also affects their credit. While having a responsibly managed loan on their report can help them build their credit, which can be beneficial to young borrowers with a limited history, it can also have negative consequences for their scores and their ability to secure other credit products.Missed Payments and DefaultsFor example, a missed student loan payment can cause a good credit score to fall by up to 100 points, making it much harder to secure new forms of credit and leading to higher interest rates. Subsequently missed payments or defaults will only make scores fall further.To make matters worse, the government can begin to garnish money from wages or taxes in the case of defaults, removing funds directly from your childs paycheck and tax returns. Wage garnishments can total up to 15% of a persons check, and tax garnishments can equal the entire refund.Debt-to-Income RatioStudent loan debt is also typically quite sizable, and that means their debt-to-income ratio will be significantly hurt by their student loans. This metric compares the amount of debt payments a person makes to the total amount earned in a specific period, such as total monthly debt repayment obligations to monthly income.While this calculation doesnt impact your childs cr edit score, it is factored in when deciding whether a lender will extend them credit. And this could hurt their chances of doing things like securing a mortgage if their ratio is too high.Managing the Student Loan Question Student loans are one of the most popular ways for people to pay for college, especially young students looking to work their way to a career. Often, student loan debt is marketed as an excellent option, partially because the interest rates are lower than those associated with many other forms of credit and they are generally easy to obtain.But even with the lower costs, it is important to remember that student loan debt is still debt that comes with interest payments. And it is something your child can be saddled with for a decade or longer.Consequences of Student Loan DebtAs of 2017, student loan debt is ranked as the second highest consumer debt category, with over 44 million borrowers owing a combined $1.3 trillion in the US alone. The average graduate in the class of 2016 left college owing $37,172 in student loan debt, with some students owing much more.With numbers like that, its no surprise that at least some people will default on their loans. But, did you know that the stud ent loan delinquency or default rate is actually 11.2% and nearly That means more than one in 10 individuals with student loans have at fallen significantly behind, if not completely defaulted, on their student loan debt payments and one if every three is at least late when repaying their obligation.Delaying Major MilestonesSo, what do these debt loads mean for students like your child? It often means they have to put off other important things in their lives and may need more help from mom and dad to keep afloat.For example, 26 percent of Millennial college students expect to have to move back home after graduating to help make student loan debt payments manageable. And, the majority of students aged 20 to 26 dont anticipate having their student loans repaid until they are at least 35.Along with that, 31%of students expect to have to delay saving for retirement due to their debt obligations, and that could lead them to have to delay retirement if they cant make up the missing funds . In fact, a recent survey suggests the retirement age for college graduates has been pushed back to 75 years old!Further, 21% expect their student loan debt to delay when they get married and 25% wait to have children because of the burden.What Student Loan Debt Looks LikeIn most cases, students carrying an average federal student loan debt of $37,172 will have a mix of subsidized and unsubsidized loans. Currently, the interest rates for each loan type is 4.45% and 6% respectively. If your childs debt is evenly split between the two programs (which isnt necessarily going to be the case), that creates and average interest rate of 5.225%. So, for ease of math, we will use that interest rate for our calculations.Using the student loan debt information above, and suggesting your child uses the standard 10-year repayment plan, that means their monthly payment will be $398.37. Thats nearly $400! And, to make matters worse, theyll pay over $10,000 in interest!Of course, other repayment pl ans are available to those who are eligible, but it is important to see exactly what their debt load means, especially when it comes to the amount of interest being paid over the life of the loan.Credit ConsiderationsStudent loan debt doesnt just affect your childs cash flow; it also affects their credit. While having a responsibly managed loan on their report can help them build their credit, which can be beneficial to young borrowers with a limited history, it can also have negative consequences for their scores and their ability to secure other credit products.Missed Payments and DefaultsFor example, a missed student loan payment can cause a good credit score to fall by up to 100 points, making it much harder to secure new forms of credit and leading to higher interest rates. Subsequently missed payments or defaults will only make scores fall further.To make matters worse, the government can begin to garnish money from wages or taxes in the case of defaults, removing funds direct ly from your childs paycheck and tax returns. Wage garnishments can total up to 15% of a persons check, and tax garnishments can equal the entire refund.Debt-to-Income RatioStudent loan debt is also typically quite sizable, and that means their debt-to-income ratio will be significantly hurt by their student loans. This metric compares the amount of debt payments a person makes to the total amount earned in a specific period, such as total monthly debt repayment obligations to monthly income.While this calculation doesnt impact your childs credit score, it is factored in when deciding whether a lender will extend them credit. And this could hurt their chances of doing things like securing a mortgage if their ratio is too high.Managing the Student Loan QuestionIn an ideal world, the best way to handle student loan debt is to avoid it entirely. But many people have to fund at least part of their education with student loans, so keeping that amount as low as possible can lower the asso ciated repayment burden.Grants and ScholarshipsOften, the first step every student should take is to look for grants and scholarships that can provide money for college. Many grants are issued based on the students FAFSA information, so make sure your child completes theirs as soon as possible.Scholarships are also an excellent way to offset the cost of tuition and other college expenses. These funds dont have to be repaid by students who receive the awards, making them free money to put towards their education. And, many scholarships dont have need-based criteria, so anyone can potentially score some money regardless of their (or their parents) income!If you are interested in learning more about applying for scholarships, join our free webinar for parents.Space is limited, so click HERE to sign up for the webinar today and find out more about helping your child score scholarships to keep student loan debt in check!Keep Student Loan Debt LowSometimes, acquiring some student loan deb t seems unavoidable. When thats the case, it is important to work at keeping the amount as low as possible. First, students shouldnt borrow any more than is absolutely necessary for covering the cost of tuition and other mandatory expenses. For example, did you know that your child can negotiate college tuition to help them lower their potential student loan debt? Learn more by reading this:Related post:5 Steps to Negotiate College Tuition and Save Thousands of DollarsSecond, work to keep all of your expenses as low as possible. This includes everything from books and school supplies, room and board, and other living expenses. If you are interested in learning all of the ways your child can save, read this:Related post:75 Easy Ways to Save Money in CollegeWorking to keep student loan debt low means it will be easier to repay the amount borrowed, helping your child move forward with other milestones more quickly.Pay Student Loan Debt Off EarlyAnother tip for managing student loan deb t is to pay it off as fast as possible. This can be done by making more than the minimum payment every month, directing extra funds from performance bonuses or second jobs to the cause, or even sending any tax refund money straight to the debt. Making additional payments not only brings the principal down, but it also lowers the amount of interest that will be paid over the life of the student loan, creating a definite win-win situation for your child.Under the right circumstances, it is possible to get a college education without adding any debt. But, if student loan debt is simply unavoidable, then paying it off quickly can save hundreds if not thousands of dollars in the end while also letting your student move on to other life goals with greater ease.

Writing Sustainable Development Essay Topics

<h1>Writing Sustainable Development Essay Topics</h1><p>Sustainable advancement is a thought that ought to be a piece of all school level creation classes. Nowadays, more understudies are taking courses that are identified with natural assurance and manageability. It is turning into a key piece of numerous grounds' educational programs since it is a significant point and is turning into the new social liberties issue.</p><p></p><p>With such a large number of individuals living in a cutting edge society that is dirtied and overpopulated, it is anything but difficult to perceive any reason why this theme is getting so significant. Such a large number of individuals are in danger for unfortunate situations that will shield them from being solid, glad, and even people. These conditions, however they may not appear as perilous, can truly influence everybody in the community.</p><p></p><p>With this as a main priority, numero us schools and colleges have included maintainability as one of their advancement paper themes. Article themes are consistently helpful in light of the fact that they permit understudies to expound on something that they feel enthusiastically about. In any case, if this subject is excessively wide, understudies are probably not going to feel as though they are expounding on the theme correctly.</p><p></p><p>There are a few schools and colleges that are as of now beginning to remember maintainability for their school level courses. These themes have become so significant that numerous understudies need to guarantee that they are being shown the right phrasing and research to bring it up when the need emerges. Understudies need to ensure that they are showing these points in the best possible manner, so it is essential to get understudies to investigate the correct assets when they have to realize how to utilize these terms properly.</p><p></p> ;<p>To begin with supportable advancement exposition subjects, understudies first need to acquaint themselves with the fundamentals. This implies they have to look into the entirety of the terms utilized in the point and discover the meaning of the hypothesis and practice of supportable turn of events. Understudies will likewise need to discover the historical backdrop of the idea as well.</p><p></p><p>Next, understudies need to comprehend the standards behind maintainable turn of events. This implies they have to discover what human wellbeing and prosperity are, the manner by which contamination influences everybody, how individuals react to catastrophic events, and how everybody can profit by manageable turn of events. At long last, understudies should become familiar with the advantages of practical development.</p><p></p><p>Students who wish to expound on economical advancement should ensure that they altogether see the entir ety of the various kinds of themes that can be canvassed in a course titled 'Manageable Development.' Essay subjects that emphasis on contamination and how it impacts everybody are extraordinary instances of feasible improvement paper points. Different points that would be remembered for this course incorporate wellbeing and prosperity issues, worldwide destitution, worldwide yearning, ecological insurance, and food security.</p><p></p><p>Students who need to have the option to compose a supportable improvement paper subject should examine the theme first and afterward attempt to expound on it. On the off chance that understudies don't know where to begin, they can start by expounding on their very own encounters. They would then be able to develop these sentiments and attempt to discover different things that they can compose about.</p>

How to Write a College Essay About Bad Grades

How to Write a College Essay About Bad GradesA college essay explaining bad grades is not something that you can finish in one day. That's because it's going to take a lot of your time and effort, and when you're dealing with the entire college experience, it's important to get the most out of each day. Here are some tips for how to write an essay explaining bad grades.Of course, the first thing you need to do is determine your main objective. It could be to explain why you're having trouble in school, or it could be to explain why you have such bad grades and have been failing classes. Whatever it is, you'll need to make sure that it is included in your college essay.Next, you'll need to decide what you're going to write about. This will depend on what you need to explain. If you need to make a point, you can also focus on what you need to do differently to improve your grades. If you need to make a point, you may have to spend some time on your topic.It is important to remember tha t you'll need to write a college essay that explains bad grades. Make sure that you keep all the information organized in order to make it easier to read.It is possible to write a college essay explaining bad grades. However, it will require a lot of your time and will take a lot of your energy. You can try to write it yourself, but it is best to let a professional grade it and edit it.It is important to get help from professionals when you are trying to write a college essay explaining bad grades. This is to make sure that the article you are writing has been completed well. You will find that you are more likely to be able to help yourself when you can see that the article has been edited well. When the person is finished editing the article, they can give you tips on how to improve it.The main goal of the essay is to make sure that you explain what happened and what you need to do to change your situation. Without this information, you will not be able to start again in life. By giving your reasons, you can show that you are the one who made the decision to fail in school. This will make it easier for the person to understand your situation.A college essay explaining bad grades is something that needs to be done correctly. So, do your research and make sure that you know exactly what you need to do in order to get it done. Remember that you are given an entire lifetime to live, so make sure that you take advantage of it.