subject: Struggling With Student Loan Debt – Debt Help Settlement Attorney [print this page] With the ever rising tuition costs for education the average American is now borrowing more, according to the numbers we currently see. So much so, that it is virtually impossible to pay it all back, especially in this gloomy economy. Historically, student loan debt was always considered a safe and secure way to go but, in reality the debt was going toward education and ultimately towards a much higher paying career. For some, this has turned out to be not so true. Some graduates are now struggling to find employment. Also not helping is the fact that a college degree costs 5-6 times as much as it did compared to 10-20 years ago.
Did you know that graduating students owe approximately $25,000 in student loan debt on average? It is now very apparent to see that there is now over $820 billion dollars in student loan debt nationally. Compare that to the just over $795 billion in credit card debt and we have a winner! Not really. For your awareness any federally funded student loan debt cannot be wiped out in bankruptcy like credit card debt. There's no escaping it. There is no government help that can give you any financial support at all from your social security checks and any tax refunds to repay that debt.
Experts advise to take out private loans only when federally funded loans are not an option. The benefits of government guaranteed loans outweigh the high interest rates that can occur with private loans. If you do get funded with private loans, make sure they're paid back as soon as possible. You may even be eligible for tax breaks if you make timely payments consistently. Also be aware that some lenders may reduce interest rates over time, once the graduate proves their track record.
Beyond this, if you are struggling with student loan debt, and it's not government backed, I know that a debt settlement attorney can help and just might be the answer you are hoping to find. Just like credit card debt, student loan debt can be reduced by 60% with the help of attorneys. The reduction is guaranteed and your monthly payments can be cut in half. Also consider a debt management program, debt consolidation, or debt settlement.
Shop around though, as debt settlement causes a tax consequence for reduced amounts. Keep in mind that your best find would be a settlement firm that will not have any such hidden fees as end of term tax surprise. Be shopping for lowest fee, and transparent service, meaning everything is available and explained very clearly, so they make it easy for you to understand the system and the benefits of using the service. Debt consolidation loans, with a low FIXED interest rate are what you should be able to find to help you to financial freedom once again. So remember to get a low fee, low fixed interest rate, and no end of term tax consequence to get out of debt fast and stress free. Best Wishes to you for a brighter future!
Struggling With Student Loan Debt Debt Help Settlement Attorney
By: Conray Nickless
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