Monday, August 30, 2010

College Debt Defaults

It’s rough spending a fortune to get through college, only get a degree that does not enable you to find a viable job. It is worse when that a career puts you in extreme debt.

Defaulting on college-induced debt can be a dilemma. You will have to get a handle on the type of debt, whether federal or private, and its terms. I suggest you contact the National Student Loan Data System, at www.nslds.ed.gov.

There may be some forgiveness programs for government workers and teachers, along with AmeriCorp volunteers and similar programs.

As a precaution, avoid heavy student loans. Do not go much further into debt than you may already have.

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