Student loan debt has surpassed total revolving credit card debt
in the United States, and the momentum is only just beginning.
There is now genuine concern about the sustainability of this
debt, as 58.8% of students are graduating with loans and other
financial obligations. With the right information, conscientious
students (and parents) can owe and stress less. Here are a few
ideas that will help you better manage and understand your
student debt. Understand Your Loans: Federal, Private, or Both?
Government or federal student loans are very different from
private student loans. Make sure you know what type you have (or
will have) after graduating and what the interest rate is. In
general, federal loans are less expensive (lower interest
rates/fewer fees) and have more flexible payment terms (like
deferment options). Federal loans are primarily needs-based, so
sometimes you can't rely on them to cover 100% of your costs
while you're studying. Some students end up with both types of
loans and quickly get conf