Student Loans

    • Types of Loans: Federal Loans to Students, Federal Loans to Parents, Private Student Loans
    • 2006 Average Student Loan Debt: $21,000
    • Helps to cover the expense of a college education
    • Student loans must be paid back according to the terms of the lending agreement
    • A default on student loans would eventually be turned over to a collection agency and would negatively impact one's credit rating

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