So the time has come in our guide
to getting good with money to talk about the thing
that none of us really want to talk about, which is
student loans.
If student loans are a part of your life,
at least take solace in the fact that you
are very far from alone.
Of the class of , % took out loans of some kind,
with an average debt burden on graduation
totaling just shy of $,.
For the vast majority of students,
college loans are a reality they must face.
And it’s better to know what you’re
getting into before you find yourself
at the end of the college experience.
For most of the loans available to you,
you will have to do something called an exit counseling
session, where you will have to read about your loan and answer
questions about it, usually around things
like the terms of the repayment, to make sure
that you understand what you’re getting into.
But many of us just don’t take those exit counselings
seriously or, even if we do, they’re
often too little, too late.
And no matter where you are in the student loan process–
i.e., even if you’ve already taken out student loans–
it’s never too late to learn more
about what that really entails.
And if you’re in a place where you have the option
to take out potentially less in student loans in the future
or even sometimes avoid them altogether,
it’s really important to know your options.
while in school.