Student Debt Facts

 

Student debt fact: 64% of post secondary students that graduate do so in debt.

 

Student debt fact: The average student debt is just shy of $17 000 U.S. More then double the amount just eight years ago.

 

Student debt fact: 39% of students who graduate with debt have a debt load that consumes more then 8% of their gross incomes. This is termed unmanageable debt.

 

Student debt fact: On top of loans and financial aid, the average graduate has 6 credit cards and carries a balance of no less then $3 200. 

 

Student debt fact: It can take up to 20 years to pay off your student debt. Interest during this time can add up to 30% to the cost of your loan. 

 

Student debt is no joke. It can literally tie you down for twenty years after you graduate. Student debt can effect the way you live your life; how and when you marry, what kind of home you live in, where and how you spend your free time.  Student debt is the kind of thing that people do not really understand until it is too late. 

 

You can avoid being sucked into the harsh world of ugly student debt repayments by starting a student business before you graduate.  There is no need to generate student debt if your student business is making you enough to pay your tuition.  You may think that with all your academic responsibilities, that running a business is just not feasible.  You may think that student business are only a short step up from a kids lemonade stand. That really you should be focusing on getting that career your parents always wanted you to get.  Let me tell you that you are wrong.  Your carerr wont happen until after you graduate.  Ask any student and they will tell you that there is a ton of free time throughout the year - think spring and summer break.  Finally, student business have proven to very lucrative.  When I say very lucrative I am talking about student business like Microsoft, Dell and Google. Each of these companies were started by students.  They are incredibly successful and have changed the world.  I have no doubt in my mind that the founders of those companies do not have any student debt. 

 

While you may not be as huge as, say, Microsoft, there absolutely no reason why your student business can't take care of your student debt and then some.  Student debt is a reality that almost every grad faces, but it need not be. There are options out there, just most of us don't want to take them. 

 

If you would like to learn more about ridding your self of student debt through a student business click the link below.