Understanding the True Crippling Nature of Student Loan Debt
Understanding the true crippling nature of student loan debt is really impossible without visuals. Most students when they see a low monthly payment are satisfied and don’t look further. They do not wonder about the total amount they will repay over time and how long it will take them. Graphics can help bring these important truths to light.
For example in this infographic, a student with a $23,118 loan making monthly payments of $200 will not pay off their loan for 15 YEARS and they will end up paying over $37,000 for that loan. And that’s at a 6-7% interest rate!! Some of these student loans are at 10-13% interest rates. .
If you are burdened by high student loan debt contact a qualified debt settlement attorney today. A qualified debt settlement attorney can likely negotiate with your private lenders for large reductions in the original balance owed making reasonable repayment monthly payments and terms possible.
Kevin Fallon McCarthy
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