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"Advice offered by Marc Hebert, president of\u00A0The Harbor Group Inc., a registered investment adviser.Student debt is widely understood to be a serious and growing problem in the United States. According to the Department of Education, 10 percent of college graduates defaulted on their loan repayments within the first two years and nearly 15 percent after three years. Total student debt is nearing $1 trillion as of the end of 2012. Given the significance of the situation, are you looking for ways to help your child avoid student debt? Here are a few tips:Click to view the report.Consider community college. Attending one or two years at a community college and then transferring to a four-year private or public school can reduce cost.Use private loans as a last resort. These loans may lock you into terms that are difficult to meet -- especially with the difficult job market.Already have loans? Join the military. Each military branch has its own loan forgiveness programs.Consider government, public service, or non-profit jobs. Students borrowing under the William D. Ford Federal Direct Loan Program can apply to have their loans forgiven if they work in public service or for a nonprofit organization. The remainder of their debt will be forgiven after they successfully make 120 qualified loan payments.Investigate income-based replacement. The income-based replacement program will cap monthly payments at a manageable share of income and forgive any debt remaining after up to 25 years of payments. The payment caps at 15 percent of their discretionary income.Become a teacher in a low-income area. The Teacher\u2019s Forgiveness Program will forgive up to $17,500 of federal Stafford loans or the entirety of Perkins loans if the student works for a minimum of five, consecutive, full-time years as a teacher."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.wmur.com/article/money-matters-how-to-contain-costs-for-your-college-ready-child/5186532>