With another group of graduates preparing to enter the workforce into a less than stellar jobs market, many parents are concerned about the hole these students have dug themselves into. Unfortunately, the bad news about student loan debt burdens keeps coming. The Education Sector recently highlighted a number of troubling trends, including:
From 1997 to 2012:
- The percent of graduates taking out loans increased from 42% to 62%,
- Median monthly loan payments as a percentage of monthly salary increased by 1.2% during this period. For the lowest income group of graduates, this figure increased from 13% to 34%,
- The percent of students paying more than 17% of their salary in student loan payments almost doubled to 19%.
In February, the Federal Reserve Bank of New York released new data showing the growth in student debt over the past decade. The Fed's data shows that nearly one in three student loan borrowers are more than 90 days behind on payments. This is a large increase from 2004.
There are many agencies that can provide you with the expertise and experience to help qualify you for a student loan consolidation program or a student loan forgiveness program. Our specialists will work with you to find the program that best suits your current financial situation.
Don't wait another day to meet your student loan crisis head on. At CashFlow we work for the greater good. We know that people entering the economy with unmanageable debt repayment plans are unlikely to succeed. We would love the chance to sit down with you and point your future in the right direction: Full Steam Ahead!! Give us a call today!
Contact us through email, telephone or Facebook :
CashFlow Credit Counseling and Collections LLC
200 Rt 18
East Brunswick NJ 08816
Email : info@cashflowcci.com
Facebook : www.facebook.com/Cashflow07734
Telephone : 732-201-3060 option #2
Twitter : Cashflow07734
