Student debt: Free tools to help graduates create repayment plans

FILE - (AP Photo/The Orange County Register, Mark Felix, File)


(WSPA) – Two-thirds of students graduating from college this year will owe more than $37,000 in student loans according to findings from Federal Reserve Bank of New York. And a TD Ameritrade Young Money Survey finds 26% of graduates plan to move back in with mom and dad.

But whether you’re about to send a kid to college, or they just graduated, there are programs to help make it all more affordable.

Attorney Rusty Infinger, the Deputy Director of SC Legal Services in Greenville points to programs that help students choose the best loans, and help graduates set up manageable repayment programs.

“The bottom line is this. If you have a student loan, you can find help to pay for it. You do not need to default on that loan and not pay for it an create other financial issues for you.”

He points to these “trustworthy” sites:

Saltmoney.org (non-profit)

Studentaid.ed.gov (government)

Both can help students find loans, and lower debt payments based on income.

Saltmoney,org also has live chats where students can ask questions.

Infinger warns, you may hear ads on TV and radio for companies that offer the same services. But many of them charge, and he says you should not have to pay for what is already free.

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