Today’s current Student Loan Debt has risen over $850 billion, the average person owing $27,000-$34,000.
Image Source: PBS.org
College can be a very beneficial step taken in one’s life to achieve the dream job and life. However based on statistics, in 1992 there were 5.1 million unemployed college graduates in the U.S., and in 2008 there were 17 million unemployed college graduates in the US. Somehow everyone is going to be left with the obligation to repay this debt since there is little to no help, even if you file bankruptcy.
The rise in this debt over the last few years can be attributed to the unemployed adults returning to school to boost their skill sets in hopes of getting another job. You will have to repay these loans one way or another, making at least the minimum payment. There are many plans 0ut there available to help you pay back these loans in a timely and efficient manner. No doubt a plan that would offer to work with your current budget but also pays off your loan sooner and eliminates interest would be a plan worth taking advantage of.
Biweekly Payment plans are available for student loans, and the plan works by taking your current monthly payment, cut it in half, and debits that amount every two weeks. Setting up this plan as an automatic debit can be matched up with your current pay schedule and permits no mistakes. Biweekly plans have been the focal point of many conversations on popular talk shows such as Oprah, CNN Money, and Wall Street Journal.
Call us at (800) 317-1756 to run a free analysis on your loan so we can see how the plan will be laid out and what options you have to accelerate the payoff of your Student Loan. You can also learn more by visiting InterestMinimizer.com.
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