Student Loan Debt and Resources for Help by Jason Spencer Student Loan

Are you seeking student loan help? Well, you’re not alone according to Jason Spencer Student Loan. In the U.S. alone, student loan debt totals more than a trillion dollars. Incredibly, the government owns about 85 percent of that debt, as a result of loans that are disbursed via government student loan programs. The amount of outstanding student debt held by the U.S. government increases by more than $100 billion each year. Unfortunately, a large percentage of college graduates are seeking student loan help and student loan relief programs. The reason? Well, it’s due in large part to the ailing economy and the hyper competitive job market, which makes it extremely difficult for many graduates to get a job that will enable them to survive and pay back their student loans. Granted, studies still reveal that having a college degree places you in a better position in the job market, as the percentage of unemployed graduates is about half the rate that you’ll see among adults who only have a high school diploma according to Jason Spencer Student Loan. But once you factor student loans into the mix, the advantage becomes much less pronounced. Home ownership rates among college grads with student loans are much lower. The credit scores of those with student loans is actually decreasing with age, whereas those without the burden of student loans are seeing a dramatic increase in average credit score over time. An analysis of the actual amount of money repaid each year has risen slightly in recent years, but a disturbing trend has been detected too. There is a rapidly rising differential between the amount of money that is actually repaid relative to the amount that is estimated to be repaid in a given year. In 2012 alone, the actual amount repaid fell short of the estimated prediction by about 30 percent. With all these facts, it’s probably no surprise that student loans have the highest delinquency rate among all common of consumer credit, a category which also includes auto loans, credit card debts and mortgages. And student loan delinquency isn’t just growing among 20- and 30-somethings; it has risen significantly — by more than 25 percent in 2012 alone — in all age groups. The average is about 35% delinquency — that means that 1 in 3 college graduates with student loan debt have been unable to make a payment in the past 90 days according to Jason Spencer Student Loan. So it’s no wonder there has been a rapid rise in the number of student loan relief programs and student loan forgiveness initiatives. As many debtors have already discovered, federal student loans are like taxes in that they’ll follow you to the grave. Bankruptcies won’t do you any good; those student loan debts will follow you until you pay them. But there is one exception that’s available to those who work in a ‘public service’ profession. The U.S. government now offers a Public Service Loan Forgiveness Program, also called the PSLF Program. … Continue reading Student Loan Debt and Resources for Help by Jason Spencer Student Loan