Monday, October 24, 2011

Disturbing Loan Default Facts

A lot of my information here at Money Smart Students deals with how to try and borrow as little money as possible to complete your post-secondary education. The following story in USA Today proves that taking out student loans has the potential to be disastrous to your future credit rating and to your ability to financially handle the major events after college - buying a car, or a home, or even getting married.
The story has some scary facts about the rate of default for loans throughout the United States. It also appears that you have a greater possibility of defaulting on your student loans if you attend a for-profit college. Give the article a read through and keep it in mind the next time you go to apply for a student loan.

USA Today article on Student Loan Defaults

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