Get Out Of Student Debt

Written by Mark Sanfilippo
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The debt that is accrued by college students today can be staggering. Entering the workforce with tens of thousands of dollars worth of debt can be disheartening to say the least. The Federal grace period of six months usually isn't long enough to find the kind of high paying job needed to pay off your accrued student debt.

One of the best ways to get out of student debt is to find a job that will directly pay off all or part of your debt. Some professions, notably those in the social services sector, have Federal Student loan repayment options. These jobs offer sometimes lower wages in exchange to paying off all or some substantial part of your debt.

Even if you cannot find a job that has a loan repayment option, there are still some great ways you can get free of your student debt. One of the most powerful and least understood tools at your disposal is the Direct Student Loan Consolidation program. This is a Federal program that allows you to combine all of your Federal loans into one large loan that will generally have a lower interest rate than your combined loans.

Getting Out of Student Debt Is Critical

The truth is that a large amount of student debt is not only annoying, it can be extremely detrimental to the loan application process. When you're applying for a car or a home loan, your total income to debt ratio is examined and a series of large student loans can offset even a substantial income and make you appear to be a poor candidate for a loan. You can find out more about Direct Loan Consolidation at Federal loan websites here on the Web.


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