while this doesn't cover every available repayment plan, or every detail of those plans, it does provide an excellent overview / comparison
Also noteworthy is the fact that this video highly recommends that recent graduates continue to live in their parents' basements to allow their student loans to be repaid.
The arguably reason for increased concern over student loan repayments is that the 'default' rates are rising rapidly ...
Budget Lifetime Default Rates
Year Loan Enters Repayment 2007 2008 2009 2010 2011
2-Year Non-Profit/Public 32.1% 31.6% 31.1% 31.4% 33.8%
2-Year Proprietary 47.3% 48.6% 49.0% 48.4% 49.4%
4-Year Freshmen & Sophomores 24.7% 24.0% 23.6% 24.2% 25.4%
4-Year Juniors & Seniors 12.4% 12.3% 12.1% 11.9% 13.0%
Graduate Students 6.2% 6.2% 6.1% 6.1% 6.4%
Weighted Average 15.9% 16.5% 17.3% 17.6% 18.4%
Source: U.S. Department of Education (based on figures published in fiscal year 2013)
The official stats clearly show that the lion's share of student loan defaults are occurring with students at 2 year schools, or with freshmen and sophomores at 4 year schools. This is I suppose understandable, since leaving school without a degree, or even graduating with a 2 year degree, will generally not lead to a job with a pay rate high enough to allow 'standard' 10 year schedule student loan payments to be made while at the same time paying for 'normal' cost of living items like rent, food, energy etc.
Thus for dancers and camgirls who are 'wrestling' with student loan repayments, it is arguably far better to shift to one of the alternative repayment plans to avoid having your loan go into default under the 'standard' 10 year plan. Having a US gov't backed student loan in 'default' status poisons credit rating / credit reports, and also makes even 'subprime' credit very difficult to obtain ( because the gov't arguably has 'first claim' rights versus private lenders ).



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