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The following is a guest post by fellow personal finance blogger, Catherine Alford, of Budget Blonde. You can also follow her on twitter @BudgetBlonde. Enjoy!
Many of you might read that title, and think, “Absolutely not! That’s what’s wrong with our country!” And, you would be right. The student loan debt in our country is a massive problem, one that’s surpassed a trillion dollars in recent years.
Why didn’t we just pick a public medical school? Wouldn’t it be cheaper?
Won’t it be easy to pay it back once he starts working as a physician?
How are you going to do that?
- They can work in a rural area for a specified amount of time.
- They can become officers in the military.
- They can do what’s called a Public Service Loan Forgiveness program and work for 10 years in a public service position.
How about you all? What techniques have you used in the past to pay off your student loans? Did you take advantage of any loan forgiveness or relief/deferral programs?
Share your experiences by commenting below!
***Photo courtesy of http://www.flickr.com/photos/edenpictures/4133664894/sizes/l/in/photostream/