Student Loans Pitfalls


are you planning college and thinking
about a student loan well there are some important tips to keep in mind
before signing on the dotted line joining us today as part of our thirteen
week money four one one series is Etta Money of InCharge Debt
Solutions to point out something falls out student loans and also to offer some
advice and assistance for those that may have fallen into the
trap kit morning tea and welcome back to visit and we need to know catches
telephones and traffic when getting my student loans i i i really didn’t a lot
of people do absolutely right so here’s the question how much should a student extract interstate ninety four lungs well you know you have really very very
careful and a look at what is it that you really
need because otherwise you can end up graduating with two
hundred thousand dollars or more in student loans let’s say this to be that
overwhelming our student loans discharge but let’s say the bankruptcy now they
are not discharge of oil in bankruptcy and you know this loans sound great when there are
offered to you but you really need to be carefully
consider a couple of things for example what is your career that you’re going to
be choosing which are income potential is that going to be said insufficient to
cover peter the amount of the one that you need to repay you really should not be using that
student loan money for anything more than we need for education have to stick
to the basics if you don’t you know you could find yourself getting
into some trouble and trouble could be affected your credit somewhere around
seventy right now yahoo it certainly can on you know that this reporter
undercover report as a matter of fact if u uh… take-out alone that’s backed by
the u_s_ government the i_r_s_ can garnish your wages for
two twenty five percent of your just as one in my home sense now if you do not
hate allen back while font so so let’s let’s say it’s it’s already
too late last night a student has bitten off more than he or she can share with
regards to the student loan uh… and these loans exceeds your needs
obviously and you’ve graduated and you’re having trouble paying back the
student loan now what well you know in a lot of cases with
students will find is they have multiple student loans really what we find sometimes is the
best solutions for them to consolidated into one loan it’s more manageable for
them they understand kind of what’s going on with it and they can also talk to their lender
about what repayment options might be available they may be able to find more favorable repayment terms do you
have to say consolidation help made yeah i i guess so i don’t really get all right so for others out there where
markets are working to go for help edit window up first good step always is
freakin credit counseling you know what my talking with a credit
counselor they can help you understand their financial situation offer some
options to u and incharge debt solutions we work with
students all the time with referring them for student loans on
and we also work with many colleges and universities to provide education
through them now can stabilize the added to get
management programs now stoneman has not be added to diminish the person who knew
however have referral partners that we can send
you to who can help you now how can the loan be several cannot
be settled well the loan we do have referral
partners as well who if u are having trouble with that loan we can send you to them they’ll work
directly with the wonder on that particular loan and again they’ll talk to the wonder and look at
you know how to might they be able to find so more favorable retain midterms for u
you know before we wrap it is going to ask you this because it probably a lot
of parents out there whose kids are getting ready to go to college why do you think it is that kids and perhaps i don’t even realize
that it may be the need to be more education there with regards to not
biting off more than you can chew because it’s a sending you these checks
you and i think i think is an eighteen nineteen you know it’s a free money it
is free money that’s how they look at it but it’s not it’s not you have to pay
that back in as we said it’s not just chargeable in bank a c so
one way or another you’re gonna be paying that one back together to get
them out as we all right what adam money always good to
have you have a set thanks so much for civilians in the sand ad for more information on denies that
incharge debt solutions visit their website in charge of dot org afford
slash and balancing dash act admission to stay tuned to our money
four one one series for even more useful tips and resources to keep your finances and different roles

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