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Why education loan financial obligation isn’t like other debt

Why education loan financial obligation isn’t like other debt

Before we move on to dealing with financial obligation more generally speaking, it is well worth clarifying that is first there is an impact between education loan debt (so that your upkeep loan and tuition cost loan combined) as well as other types of financial obligation.

Whilst it is just natural that you would have the weight of graduating with a sizable swelling of financial obligation over the head, usually the therapy of knowing there is the debt could be the part that is hardest.

This year, one in two of you told us you didn’t understand your student loan agreement in our National Student Money Survey. Whilst we’d never explain figuratively speaking as being a ‘good deal’ so we undoubtedly do not concur with the interest levels currently charged to them, with regard to your mental health, we think it really is well worth making clear some things about why these loans are very different. (more…)

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