Laura foti dicsussion 4 ignite slides

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Student Loan Debt Keeps Rising

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Nearly 20 million Americans attend college each year

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37 million student loan have outstanding student loans

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under 30 age group borrowers the most at 14 million

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The average student loan debt for the Class of 2011 was $26,600, a 5% increase from 2010

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!!!!!!!!65% student loan borrowers misunderstood the student loan process

What are my options?

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Have you considered all options before taking out this loan

Do you really understand student loans

Ask yourself

Understanding the small print

what happens if you miss a payment or default on your loan

Ask yourself

The long-term effects this may cause

Ask yourself

One-third of recent grads, if they could do it all again,

would have pursued more scholarships or financial aid options, pursued a major that would have led to a higher paying job, gotten a job while in college and started saving earlier

http://www.asa.org/policy/resources/stats/America Student Assistance (n.d) Student Loan Debt Statistics In America. Retrieved March 8, 2014, from

Facts

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feeling like I would never pay this off

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Understand the small print

Table 1A. Average Published Charges for Full-Time Undergraduates by Type and Control of Institution, 2013-14 (Enrollment-Weighted)

Tuition and Fees Room and Board Total Charges

Sector 2013-14 2012-13 $ Change

% Change 2013-14 2012-13 $

Change%

Change 2013-14 2012-13 $ Change

% Change

Public Two-Year In-

$3,264 $3,154 $110 3.5% $7,466 $7,342 $124 1.7% $10,730 $10,496 $234 2.2%

Public Four-Year In-

$8,893 $8,646 $247 2.9% $9,498 $9,171 $327 3.6% $18,391 $17,817 $574 3.2%

Public Four-Year

$22,203 $21,533 $670 3.1% $9,498 $9,171 $327 3.6% $31,701 $30,704 $997 3.2%

Private Nonprofit Four-

$30,094 $28,989 $1,105 3.8% $10,823 $10,458 $365 3.5% $40,917 $39,447 $1,470 3.7%

For-Profit $15,130 $15,060 $70 0.5% — — — — — — — —

SOURCE: The College Board, Annual Survey of Colleges.

This table was prepared in October 2013.

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Mapping out a plan

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when will I be done paying this off!

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Further information On Federal Loan Discharge Programs: http://www.asa.org/loan-help/dispute/default.aspx !!Further information On Federal Loan Forgiveness Programs: http://www.finaid.org/loans/forgiveness.phtml !!Loan Cancellation And Discharge Forms: https://saltmoney.org/content/Forms?Ns=/Form/_/N-17Z4l !!Further information On Forgery (Contact Your Local Police And Refer To You State Law): http://statelaws.findlaw.com/criminal-laws/forgery/