THERE IS A TRUTH TO STUDENT LOANS THE FACTS THAT NO ONE HAS DISCUSSED.

1. shorturl.at/hilN6 THERE IS A TRUTH TO STUDENT LOANS: THE FACTS THAT NO ONE HAS DISCUSSED.

2. Around 45 million Americans are now in debt of $1.6 trillion on the student loan. This is roughly one in four adults, more than double the amount of people who had higher education loans just 15 years ago. In the case of millennials, this figure is one in three frequently cited as the main reason why so many young adults don’t have the money to purchase a house or get married, start children or get from their parent’s basements. In the meantime, the amount students can borrow has risen by 60 percent in the same time frame, and the number of loans that default has also increased. Over one-quarter of students need help to pay their loan payments after 12 years of borrowing, compared to. Eighteen percent two years ago. That amount is expected to rise to 40 percent in 2023. In the event of default, there can be tears: It can damage people’s credit scores, ruin their ability to get loans or lease an apartment, and in some cases, it can cause their professional licenses to be suspended. shorturl.at/hilN6

3. YOU’LL BE SURPRISED. THE RATE OF BORROWING HAS DROPPED OVER SEVEN CONSECUTIVE YEARS. The most eye-catching figure often mentioned about student loans comes in at $1.6 trillion. That’s the sum of outstanding debt for higher education across the U.S., and it’s increased exponentially since 2006 when it came to just $480 billion. As a result, student loan balances today are more significant than outstanding credit card debt, more extensive than what people owe on auto loans, and second only to mortgages and home equity borrowing–collectively, $9.7 trillion –as the country’s largest source of consumer debt. shorturl.at/hilN6

4. While the decrease in student loans could seem to contradict everything you’ve heard recently, however, it’s not. It’s just that two distinct aspects are being analyzed: total debt and new borrowing. The main reason for the considerable increase in students’ debts is the accrual of interest on older loans, particularly as more borrowers opt to enroll in income-based repayment programs. These income-based repayment plans, which have been expanded multiple times over the past ten years, allow borrowers to spread payments over 20 or 25 years instead of the traditional ten years to cut down on the monthly cost of their loans. However, the interest rate continues to rise and is added to the amount owed. Today, nearly 50% of the loan funds repaid are from income-driven programs, as opposed to 27 percent four years ago. shorturl.at/hilN6

5. A SMALL PERCENTAGE OF PEOPLE OWE MORE THAN $100,000. As perUnited Aid Group, most graduate students join the $100k club, and membership is increasing rapidly. Half of those with professional degrees — think dentists, lawyers, doctors — owe at least $100,000; 20 percent owe $200,000 or up, according to the College Board reports. This doesn’t even include the debt they incurred during their undergraduate studies. Regarding borrowers with an advanced degree who started paying off loans in 2014, 20 percent owed more than $100,000, up from 8 percent back in 2000, claims Adam Looney, an economist at the Brookings Institute. The borrowing spree started around ten years ago with the creation of the Graduate PLUS loan program. This lets students get loans that are up to the price of their attendance, with no other aids and with only a quick credit check needed. The government also increased the annual limit for the traditional Stafford loans for students in graduate school to $20,500, a step up from the previous limit of $18,500, and made obtaining loans for online or for-profit courses much more accessible. shorturl.at/hilN6

6. A MAJORITY OF COLLEGE STUDENTS OWE LOWER THAN THEY’VE BEEN TOLD. There’s a problem, however, that “average” is significantly distorted due to large balances held by a small percentage of students, most likely independent, older students who can take out more loans. This isn’t necessarily a reflection of the typical college student’s experiences. 37% of students in four-year public institutions and two-thirds of students attending private institutions finish with less than $30,000 in student loans, around half of them have borrowed less than $20k, and 4 in 10 graduate within a range of less than $10,000. Three out of 10 undergraduates do not have any debt whatsoever. THE MOST MODEST BORROWERS ARE IN A DIFFICULT SITUATION. What happens to those who fail to reach the finish line- those who borrow loans but drop out of college without earning their degree? The students who take out loans end up borrowing very little, but they receive a different amount of money than those who earn their B.A. The amount of the loan and not the size that the loans are the most crucial element in the outcome. shorturl.at/hilN6

7. Contact US Location:-USA Address:- 501 West Broadway Suite 800,San Diego, CA 92101 Phone Number:- 888-262-9957 Social Accounts:- https://www.facebook.com/UnitedAidGroup/ Email:-support@uagroup.org Office Hours:- Monday – Saturday 9:00 am – 5:00 pm (PST) shorturl.at/hilN6

8. Thank You shorturl.at/hilN6