Ways to borrow less...

Posted by andres.valenzuela on Friday June 22, 2007

"Students are borrowing more than ever to cover the shortfall between college savings and costs. Over the past decade, the number of students with $40,000 in student loans has increased tenfold, according to the American Association of State Colleges and Universities. That burden hinders their ability to start a family, buy a house or make other major decisions," Kipliger reports. "Whether you've saved six figures or nothing at all, your student may end up taking out loans to cover expenses. To keep the debt manageable, students should try to limit their monthly payment to between 10% and 15% of their expected future income."

You can read the full Kiplinger article online here.
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