The Federal Reserve Bank of New York says the country now owes close to $1 trillion in student loan debts. But in some states, the problem is worse than others.
Paying off student loans can be a long and scary venture. But one way to get a handle on how to make it an affordable experience is to take a tip from the Pilgrims.
Ken Ilgunas spent two years obsessively paying off the $32,000 he owed on his student loans. And when he decided to go back to school for a graduate degree, he figured out a way to come out the other side debt-free.
Many colleges now offer student loans and grants on debit cards, without disclosing their agreements with banks. That's caught the federal government's attention.
A report out this morning says college students are leaving school ever deeper in debt. Students graduated last year owing more than $26,000 on average — up five percent from the year before.
When you pursue higher education with a big debt load weighing you down, it can be hard to figure out how to manage your scarce resources and still achieve your goals.