Why education loan financial obligation is not like other financial obligation

Why education loan financial obligation is not like other financial obligation

Before we proceed to dealing with financial obligation more generally speaking, it is worth very first clarifying that there’s a positive change between education loan debt (so that your upkeep loan and tuition cost loan combined) along with other types of financial obligation.

Whilst it is just normal that you would have the weight of graduating with a sizable swelling of financial obligation over your face, usually the therapy of knowing you’ve got the debt could be the most difficult component.

This year, one in two of you told us you didn’t understand your student loan agreement in our National Student Money Survey. Whilst we’d never explain student education loans as being a ‘good deal’ therefore we truly do not buy into the interest rates currently charged on it, in the interests of your psychological state, we think it really is well worth clarifying a couple of things about why these loans will vary. Continue reading “Why education loan financial obligation is not like other financial obligation”