According to the Public Interest Research Group in the US, the average debt among student borrowers is currently in excess of $16,500. The Associated Press also noted that graduates of public colleges and universities owe more than $10,000 for their undergraduate years alone. Those who are in private institutions typically owe $14,000, while the graduate-level students often owe more than $24,000. Those studying medicine or law accumulate even more debt. The bad reality is repaying these debts is even becoming more difficult for graduates in the midst of uncertain jobs and the recession.The only hope that graduates have now is to consider student loan consolidation. Interest rates for student loan programs are now at record lows, so it is a tremendous help indeed. In fact, student loan consolidation can save students and graduates from thousands of bucks in interest charges alone. This book will be a quick guide to students who are in debt crisis and would like to consider a student loan consolidation program. You will get information on: • The right period to consolidate • Repayment tips for the life of your loans • The collection procedures involved with defaulted student loans • Preventing default • Getting out of default• Student loan rehabilitationWe pay for education because we need a degree to advance in life. Paying for that education does not need to be a lifelong burden. Student loans help to ease out the burden and it should be a channel worth exploring.
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