For many students loans are the only means by which they can pay for college. Tuition, fees, books, and living expenses are far more than a student can earn by working full time in the summer and part time during the school year. Student loans are relatively easy to obtain, and since no payments are due while still a student, student loan debt can pile up. It is tempting to take as many loans as are available, and worry about how the debt is going to be paid back at a later time. The assumption is that the loan is an investment with the investment being the high paying job obtained upon graduation. The money from that job will easily pay off the student loan debt. Unfortunately, that is not always the case.

When a student graduates, reality sets in. The student loans are now due, and the monthly payments can easily be the number one expense of the former student. The loans will take longer to pay off than the time spent in school. The former student is in need of student loan relief, and or, student loan forgiveness. What appeared at one time to be a simple matter of loan payment has now become a prohibitive expense. The student loan payments now dictate the lifestyle of the debtor. There seems to be no escape, only years of debt payments.


Without some student loan relief, there would seem to be no escaping the student loan trap. Fortunately, there is a student debt relief program that offers options for the debtor. These options include a temporary stay in making payments and a reduction in the actual monthly payments. Both provide relief in different ways but neither reduces the amount of debt owed. That can only be accomplished with student loan forgiveness. There are ways to earn forgiveness. Some require taking a certain job. It is important to note that the point of forgiveness is to encourage certain behavior by the student debtor. An example would be taking a job in a depressed area that normally would not attract new graduates who are looking to live in major population areas that have a booming economy.

For the new graduate, it is important to have a full understanding of student debt relief, and the options available. An individual should not wait too long before protecting their rights. Interest can accumulate quickly, and the former student can find himself or herself only paying interest. A plan needs to be developed and followed to avoid this situation. Student debt relief must be utilized to the fullest. Every program and relief available should be claimed.

There is no set pattern for every student. Each person is different, depending upon the type and amount of each loan along with the interest owing. Each student has a different income, different expenses, and a unique job in a specialized environment. This is where personal advice comes into play. Do not rely upon advice from someone else who may have a totally different situation.

The takeaway should be that student loans can accumulate quickly, with the total due being much more than anticipated. The student loan debt program was designed to meet and deal with that reality. Learn all you can about its benefits. Take advantage of every entitlement. Paying off student debt without help, including all interest due, is a noble goal but one that is highly unlikely unless a student finds a very high paying job. There is nothing wrong with benefiting from all programs. They are there to provide relief as needed for the student debtor.