What is a Student Loan?

Student loans help students receive financing so that they can achieve their education goals and ideally attain degrees and certifications. Students loans tend to be amortized over the long term. They can be quite costs and if you can afford to pay them off early you really should.

Are There Alternatives To Student Loans?

There are not many alternative to student loans in the marketplace currently. However, there are now equity based repayment loans for education in which borrowers can opt to repay student loans via equity on their income. This is a unique approach to paying down the loan as opposed to a traditional student loan which requires payments come due after the student finishes their education.

How Do Student Loans Impact Credit?

Student loans can tend to be a net negative to credit worthiness since these loans are typically lean more on the "bad debt" side, since they are unsecured.

Why the General Dislike of Student Loans?

Student loan debt in particular is usually amortized over 10-20+ years and just thinking about being on the hook for education loans you took out during your college years can really be demoralizing for consumers. Many consumers can often feel a sense of deep-seated regret about how effectively or ineffectively they've utilized those dollars in their younger years. If you couple this with the long payback period of these loans, many consumers really just feel like they have a limiting ceiling right overhead that prevents them from saving, investing and doing all the normal things they expected they would be able to do.

Is There a Way to Get Out of Student Loans?

Unless there is widespread government forgiveness for qualifying federal loans, there is no current way to get out of paying off federal student loans. If your loans are federal issued, ultimately, you signed up for them with the intention of paying them off. Currently, there is very little companies can do to settle federal student loans.