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Do college loans leave you in debt?

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It takes the average student debt borrower 20 years to pay off their loans, and currently, over 44 million Americans hold a total of $1.4 trillion in student loan debt. ... First and foremost, missing a student loan payment will hurt your credit score and make it more difficult for your to borrow money in the future. read more

If you take out student loans you owe the money back. They are loans. BUT, they have very long pay-off times and low interest rates. It is not like you get handed a bill with your diploma for 75K that needs to be paid off at the end of the year. You have time. Not every degree offered in college will net you a high paying job right after graduation. read more

Fewer than 20 percent of community college students take out loans — compared to almost 70 percent at all nonprofit schools — and their debts, on average, are less than a third of the nearly $30,000 borrowers at four-year schools shoulder. read more

But the best thing to do in this situation is call your student loan servicer and ask what repayment options are available. Instead of Quitting School, Go Back Part-Time. One way to handle student loan debt is to go back to school part-time. read more

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