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‘Should I pay off my son’s student loan – or is there a better use for my cash?’ Save Thanks to 9,000 annual fees, students commonly graduate with over 40,000 debt Credit: Getty
Student loans can help your child pay for their education goals, but the debt can sometimes be hard to manage as your child pursues life after graduation. While you may not have been able to cover the entire college tuition bill at enrollment, here is some advice on helping your child pay off their student loans.
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The student debt dilemma: Is it worth paying off your child’s loan if you can? 0 May 22, 2019 12:50 am Graduates are now leaving university with debts so high they are unlikely to ever pay them off – perhaps even if they go straight into a job paying 4
Weigh the pros and cons of helping your child pay off their debt.. If your child is struggling to pay a loan or credit card you cosigned, there’s no doubt you should make payments.. What Every Student Should Know About Paying for College.
· Parents still paying off own student loans. On top of the stress of paying for their child’s college education, parents also still worry about paying off their own student loan debt. Fifty-five.
You may be relieved to know that student loan reforms have done a lot to make the burden of student loan debt more bearable for everyone, including parents. Rather than contributing large sums of your own money to help pay down his or her debt, help your child explore alternative options such as income-based repayment plans.
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It’s the million-dollar question for many parents out there – if your child has a student loan, should you help them to pay it off? Dr Pushpa Wood of Massey University has the answers. Whether you give money to your child or not can be a real dilemma. Every parent wants to help their
This is what you need to know before using 401k to pay off debt. Paying it off faster: The benefits of becoming debt-free fast. According to U.S. News and World Report, the average 2014 alumni graduated with $28,110 in student loan debt. At a 6 percent rate interest rate, the publication estimates these students are shelling out roughly $312.