Why education loan financial obligation is not like many financial obligation

Before we proceed to speaking about financial obligation more generally, it is well worth very first clarifying that there is a positive change between education loan debt (which means that your upkeep loan and tuition charge loan combined) as well as other types of financial obligation.

Whilst it really is just normal that you would have the weight of graduating with a sizable swelling of financial obligation over your mind, usually the psychology of knowing you’ve got the financial obligation may be the part that is hardest.

Inside our National scholar cash Survey in 2010, one in both of you told us you did not comprehend your education loan agreement. For the sake of your mental health, we think it’s worth clarifying a few things about why these loans are different whilst we would never describe student loans as a ‘good deal’ and we certainly don’t agree with the interest rates currently charged on them. Read more