GreenPath discusses student loan debt options, as debt reaches new high in Q2 2012

5 Sep

This subject touches many of us…

GreenPath Financial Wellness Blog

The New York Fed recently reported that outstanding student debt rose 1.1 percent from $904 billion three months earlier. The loans were taken out by students and their parents, and the majority are backed by the U.S. government.

Ninety-day delinquency rates for student loans increased to 8.9 percent from 8.69 percent in the first quarter, the New York Fed said. Since the peak in household debt in the third quarter of 2008, student-loan debt has increased by $303 billion, while other forms of debt fell a combined $1.6 trillion.

Where to turn to for assistance with student loan debt?

GreenPath works with people everyday who are struggling with student loan debt. Some of the advice that we give includes:

There is a new federal program called Income Based Repayment (IBR) that adjusts your monthly student loan payment relative to your current income level and family size. Also, there is a…

View original post 243 more words

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: