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Student loans: Help members manage their debt

first_img“Making an investment in higher education can lead to greater opportunities with larger income potential,” notes Steve Pounds, personal finance analyst at Bankrate.com, in a recent article at TheStreet. “However, with the current tuition prices people need to [be] mindful of the return on their investment and making sure they can manage any debt incurred.”Higher education often comes with a big price tag and lasting repercussions: The average bachelor’s degree debt is $35,051, currently held by 70.9% of graduates.This is an increase from average debt of $12,759 20 years ago. Then, 54% of students carried such a financial burden.Federal Reserve Bank of New York data show student loan debt equaled $1.26 trillion in June, a $69 billion increase from the prior year. This debt comprises the second biggest reservoir for debt after mortgages—currently $8.36 trillion, up from $246 billion last year. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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