Thursday, December 3, 2009

Our College Graduates and Student Loans

This semester is finally winding down. THANK GOODNESS! Yesterday, I wrote an article for the college newsletter that focuses on the "After the Degree, Now What?" conference. This was a very interesting way to reflect on last month's successful event. However, today I received a message on my RSS feed titled, "College Graduates Struggle to Repay Loans".

Many college students do not focus on their student loans until their last month of school. This is when students are required by the federal government to participate in online exit counseling. At this time in most students' lives (including my own), they are not focused on ANYTHING but their final exams and the graduation ceremony.

I think more students should know about the pros and cons of consolidating their student loans. In addition, it seems that many students do not know that they have the option to defer student loans if they choose to go back to school. Last, but certainly not least, if students experience a financial hardship or unemployment, they should know about the option to ask their loan company for a deferment.

My goal is to pay off my student loans in the next four years (before I go up for tenure). My family uses coupons, but I will definitely have to find more ways to save money repay our student loans!

Have a great day!

J. Edwards (Millennial Professor)

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