November 2, 2016
Student debt is rising in the US, topping $1.4 trillion, and having a significant impact on millennials and their life decisions. Many younger generations that find their student loans amount to thousands are putting off buying a home and other milestones in an effort to keep up with repayments. Loan experts LoansLens are urging students and former students to do some research and learn how they can save money and keep repayments under control.
Over two thirds of graduates complete their education with debt and the amount they are leaving with is rising. In 2015 the average was $30,100, an increase of 4% on the previous year, according to the Institute for College Access and Success. The statistics also reveal that almost a fifth of graduate debt is private and typically cost the individuals more money with fewer protections. The latest figures suggest that millennials could benefit from learning more about the different finance options open to them when it comes to funding their education.
Richard Moldenhauer, loan consultant and online loan expert at LoansLens, said, “Student loans can have a huge impact on our lives and financial security. Unfortunately, some students choose a student loan option that isn’t necessarily the best choice for them or don’t fully understand their options when it comes to making repayments. Gaining financial knowledge means that generations saddled with student debt can make better choices and become financially stable quicker.”
LoansLens offers a range of articles that those with student debt can pick up advice from. The wide-ranging information can support individuals at any stage of the process from those making initial plans to go to college to people that find they are unable to make repayments on their loan. LoansLens also offers support and advice on other types of loans, such as personal loans and car loans, and aims to help individuals understand how they can get the most out of their finances.
To find out more visit http://loanslens.com
LoansLens is a website committed to helping people learn more about loans and how to get the most out of them. The platform is a database of regularly updated articles covering a variety of loans, from a student loan to a personal loan, that can offer advice and tips for those considering taking out finance or those that have already done so.
Dakota Digital for LoansLens
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