Hacking Student Loans

HACKING JOUT STUDENT LOANS mix Tips Tips on Minimizing Student Loan Debt Though going to college is still part of the American Dream, almost 70% of 4-year degree grads acquire debt in order to foot the bill Average $371172 AMOUNT OF DEBT snarly #s 2016 SHOWED SOME for the CLASS OF 2016 Average STARTLING TIME TO PAY OFF STUDENT LOANS 21 YEARS FOR STUDENT LOAN FINANCIAL STRAIN 9.6 MILLION AMERICANS WITH FEDERAL STUDENT LOANS. THAT CAN'T MAKE THEIR MONTHLY PAYMENTS IN DEFAULT Have not made loan payments in over a year DELINQUENT At least a month behind on payments Bogtrs 3.6 3 3 DEFERRED LOAN MILLION MILLION MILLION Loan deferred or temporary permission to not make payments 0 1 2 3 4 5 6 7 8 9 10 Months without loan payments Millions of people WACK! LOAN But not going to college is most likely going to cost $500,000 over your lifetime - QANS "Statistics refer to federal Joans only, not private lending institutions not make payments so wouldn't you rather just avoid the stress of overwhelming loan payments? PLANNING AHEAD your 10TAL COSTS COLLEGE COST PER YEAR WILL VARY DEPENDING ON THE TYPE OF SCHOOL YOU ATTEND IS THE best WAY TO minimize STUDENT LOAN DEBT PUBLIC IN-STATE PUBLIC OUT-OF-STATE PRIVATE COLLEGES $9,410 $23,893 $32,405 *2015-2016 average tuition pri College Board 0A LOOK INTO ROOM & BOARD, COST OF LIVING, & SCHOOL SUPPLIES REMEMBER ARE NOT INCLUDED IN THE PRICE OF TUITION OTHER TYPES OF FUNDING before relying on loans 2014-2015: AVERAGE COST OF TEXTBOOKS & COST OF BEER MONEY $123.8 BILLION ROOM & BOARD SUPPLIES WILL VARY PER PERSON $10,597 $1,200 $??? IN GRANTS AND DO NOT NEED TO BE PAID BACK SCHOLARSHIPS RAD!! WAS AWARDED 41% 37% 14% $17.3 MILLION $45.8 MILLION $50.8 MILLION PRIVATE ORGANIZATIONS FEDERAL GRANTS UNIVERSITY FUNDED MERIT & NEED BASED PROGRAMS & NEED BASED RELIGIOUS GROUPS, COMPANIES, ETC SCHOLARSHIPS SAVE MONEY BEFORE COLLEGE, So you don't have to pay it-back later Expect+heir kids to g0 bu+ aren't saving for it ONLY 57% OF FAMILIES ARE ACTIVELY ON AVERAGE, ONLY 33% OF TUITION GETS COVERED SAVING MONEY FOR COLLEGE BY SCHOLARSHIPS & GRANTS EVEN THOUGH 9O°% OF PARENTS EXPECT THEIR CHILDREN WILL ATTEND COLLEGE 33% +46%! "covered" BUT ACCORDING TO THE REPORT, HOW AMERICA SAVES FOR COLLEGE 2015 YOU'LL SAVE 46% MORE FOR COLLEGE THAN THE AVERAGE FAMILY IF YOU SET A GOAL TOGETHER & CREATE A SAVING PLAN Think ahead when it comes to your college lifestyle choices to save you time, money, & lower your need to take out loans GETTING COLLEGE IS ABOUT LEARNING and GROWING AS A PERSON BE FRUGAL FIND A WORK STUDY PROGRAM THEINTERS WITH YOUR OR PART TIME JOB 8891392 SPENDING HABITS RESIDENT ADVISORS (RA) FOR DORM ROOMS TYPICALLY HAVE THEIR CUT BACK ON THE LUXURY ITEMS • BUY GROCERIES WITH FRIENDS & LIMIT HOW OFTEN YOU EAT OUT • ONLY SHOP AT STORES THAT OFFER STUDENT DISCOUNTS • DITCH THE PREMIUM CABLE PACKAGE-YOU SHOULD BE STUDYING ANYWAY! ROOM & BOARD COVERED FEDERAL WORK-STUDY PROGRAMS PROVIDE PART TIME JOBS FOR STUDENTS WITH FINANCIAL NEED, HELP WITH LIVING EXPENSES, & BUY USED TEXTBOOKS & SELL THEM WHEN YOU'RE FINISHED • AVOID SPENDING FULL PRICE AT THE COLLEGE BOOKSTORE • FIND USED BOOKS ONLINE FOR CHEAPER PRICES EXPERIENCE IN YOUR FIELD OF STUDY • CHECK OUT TEXTBOOKS FROM THE LIBRARY PART-TIME, OFF CAMPUS JOBS CAN BE FLEXIBLE &FIT INTO YOUR COLLEGE SCHEDULE THINK ABOUT A GAP:YEAR DURING SCHOOL TO GAIN VALUABLE LI FE EXPERIENCE JUMA ACCORDING TO A 2016 AMERICAN GAP ASSOCIATION REPORT GET A startoN YOUR CAREER STUDENTS MAKE BETTER DECISIONS WHEN RETURNING TO THEIR STUDIES WHILE STILL STUDYING 73% A4% ACQUIRED SKILLS TO BE SUCCESSFUL IN THEIR FUTURE CAREER BELIEVE IT INCREASED THEIR READINESS FOR COLLEGE 77% SAY IT AFFECTED DECISIONS ABOUT THEIR CAREER 57% SAY THEIR GAP YEAR HELPED THEM DECIDE THEIR MAJOR 75% BELIEVE IT HELPED OR WILL HELP THEM GET A JOB CHANGING MAJORS EVEN ONCE CAN ADD A FULL YEAR ONTO SCHOOL & YOUR TUITION BILL STUDENTS WHO TAKE A GAP YEAR STILL GRADUATE UNDER THE AVERAGE TIME ONLY 60% OF FIRST TIME COLLEGE STUDENTS GRADUATE FROM 4-YEAR PROGRAMS WITHIN 6 YEARS! -V- AVOIDING A MÕUNTAIN OF E STUDENT LOAN DEBT 4 JUST TAKES A LITTLE PLANNING! americangap.org/assets/2015%20NAS% 20Report.pdf bigfuture.collegeboard.org/pay-for-college/grants-scholarships collegedata.com/cs/content/content_payarticle tmpl.jhtml?articleld-10064 PRESENTED BY RefinanceStudentLoans.net businessinsider.com/sallie-mae-how-america-saves-for-college-2015-2015-6 cnbc.com/2014/01/28/college-textbook-costs-more-ontrageous-than-ever html marketwatch.com/story/americas-growing-student-loan-debt-crisis-2016-01-15 usnews.com/news/blogs/data-mine/2014/10/07/student-loan-expectations-myth-vs-reality wsj.com/articles/more-than-40-of-student-borrowers-arent-making-payments-1459971348 ibtimes.com/student-debt-crisis-2016-new-graduates-owe-record-breaking-average-37000-loans-2365195 DEVELOPED BY N NOWSOURCING trends.collegeboard.org/college-pricing/figures-tables/average-published-undergraduate-charges-sector-2015-16