One of the main reasons why people fall behind on their student loan payments is because they just can’t seem to get organized.
And no wonder. You’ve got multiple loans from different lenders, federal and private student loans with varied terms, and other debts. Oh, and you’re trying to keep your life together at the same time. Jobs, friends, and family – the works.
In fact, most people have no idea how much they owe.
According to a December 2014 study released by the Brown Center on Education Policy at Brookings, about half of all students in the U.S. underestimate how much debt they have and less than a third can come within a few thousand dollars of the correct total. About a quarter overestimate their level of federal debt.
The study also found that 28% of students with federal loans said they had no federal debt, and 14% said they didn’t have any student debt at all.
No information and no organization leads to a bad outcome with your student loan payments.
Today on the student loan show I’m going to give you my super simple method of keeping yourself organized when it comes to your student loans.
Resources
- Student Loan Help Facebook Group
- Credit Card Repayment Calculator
- Student Loan Repayment Calculator
- AnnualCreditReport.com
- Experian
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