Student_loans_SS10.key

Student_loans_SS10.key - Student Loans Paying off your...

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Student Loans • Impacts on future finance decisions • Types of loans – Federal – Private • Payment options • So What? Paying off your student loans • Eyes Wide Open…. • Expect to work, have a job. • Knowledge! Good debt vs. Bad debt What is the difference?? National Stats: • Student Loans • 47% from govt. • 66% overall • 74% grad students “Average” Amount $6,600 $9,100 $17,600 Wallet Woes Michigan State University Average debt at graduation $22,147 Turn on IClickers Let’s see about students in this class. • A. I am under the MSU average student loan debt for my class level. • B. I am over the MSU average student loan debt for my class level.
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What type of loan do you have?? Federal Private Lender Subsidized Unsubsidized Based on need Govt pays interest/school NOT based on need Borrower responsible for interest at all times. 5.6% 09/10 4.5% 10/11 3.4% 11/12 6.8% More Federal loan info: Limits and Benefits: Dependent Independent Grad $31,000 $57,500 $138,500
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This note was uploaded on 11/11/2011 for the course FCE 238 taught by Professor Boyce during the Fall '07 term at Michigan State University.

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Student_loans_SS10.key - Student Loans Paying off your...

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