Are you dealing with student debt? You’re not alone. The amount of student debt that Americans owe is a staggeringly-high $1.7 trillion dollars and growing. Almost 70% of graduating high school seniors from the Class of 2019 took out student loans, and it’s likely that percentage will only increase for the Class of 2020. If you’re looking for some help managing your student loans, here are a handful of free and low-cost online resources that can help.
If you received federal loans, you’re in luck: not only does the Department of Education offer a variety of repayment plans that are available for almost all federal loans, but it also offers programs that can help forgive your student loans. For instance, students employed by the government or non-for-profit organizations may be able to receive loan forgiveness through a program known as Public Service Loan Forgiveness. And students looking to become teachers should read up on the Teacher Loan Forgiveness program.
Beyond the government, independent organizations have created online resources to help student navigate repaying their loans. Sites like Student Loan Borrower’s Assistance and Higher Ed Not Debt have easy-to-navigate resources on debt repayment, discharge and more. If you’d like personalized advice, services like FCAA offer free and low-cost credit counseling and can help you get started in managing your debt. And if you have a dispute over your loan, the Institute of Student Loan Advisors can aid you in resolving it.
If loans make your head spin, then take a look at our up-to-date resources on all things student loans. And if you want to avoid student debt all together, try a free scholarship search today and discover scholarship and grant money for college that is always debt-free.