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August 29, 2023

Manuevering the Complex Landscape of Student Loan Debt in the United States

Student Success|Tuition Options|Student Loans

More tuition options and more student financing options can help to combat the trend of student loan debt by making it easier for students to afford college without taking on excessive debt. This can be done by providing students with more choices about where to attend college, as well as by offering more tuition payment options.

Student loan debt is a growing crisis in the United States. A new report by ChamberofCommerce explores the complex landscape of student loan debt and its impact on borrowers, policymakers, and financial advisors.

Student loan debt in the United States has reached a staggering $1.7 trillion. The average borrower owes over $30,000 in student loans, and many borrowers are struggling to make their payments. The resumption of student loan payments on October 1, 2023, will only add to the financial burden of borrowers.

More tuition options and more student financing options can help to combat the trend of student loan debt by making it easier for students to afford college without taking on excessive debt. This can be done by providing students with more choices about where to attend college, as well as by offering more tuition payment options.

By making college more affordable, we can help to reduce the amount of student loan debt that students graduate with, and we can also help to improve their financial security in the long term.

 

Tuition Payment Plans

Your school’s billing office (sometimes referred to as the bursar’s office, cashier’s office, or student accounts office) may have payment plans available to help you spread the remaining costs over several payments throughout a semester. The payment plan can help you budget the payments rather than paying in one lump sum, possibly helping you avoid costly late fees.

Meratas is a national leading provider of flexible school sponsored payment plans.  You can inquire with your school, or search here to see if your school is already working with Meratas.


Instantly Pre-qualify, Compare and Apply for Private Loans through a Multi-Lender Marketplace

We get it, applying for student loans with direct lenders is a time consuming, burdensome process, which you have to repeat over and over again.  Wouldn’t it be better to apply once, and be able to compare all of your schools’ approved private lenders?  Well, now you can!

Using Meratas’ Multi-Lender Marketplace, you can search and compare real, personalized private loan offers from multiple national lenders through one simple, two-minute application. Using the Multi-Lender Marketplace is free to you, and does not impact your credit score.

After comparing your personal rates, you can choose the loan that best serves your needs, and apply directly through that lender’s website.  You have the right to use any lender you wish, and to accept or reject any offer presented to you. 


By: Jamie Davis

This post was prepared by the author, in her/his personal capacity. The views expressed are her/his own, and do not necessarily reflect the views of Meratas Inc.

The information contained in this site is general in nature and should not be considered to be legal, tax, accounting, financial or other professional advice. In all cases, you should consult with professional advisors familiar with your particular situation prior to making any important decisions. Although every effort has been made to provide complete and accurate information, Meratas Inc. makes no warranties, express or implied, or representations as to the accuracy of this content. Meratas Inc. assumes no liability or responsibility for any error or omissions in the information contained herein or the operation or use of these materials. Copyright 2023

About the author

This post was prepared by the author, in her/his personal capacity. The views expressed are her/his own, and do not necessarily reflect the views of Meratas Inc.
The information contained in this site is general in nature and should not be considered to be legal, tax, accounting, financial or other professional advice. In all cases, you should consult with professional advisors familiar with your particular situation prior to making any important decisions. Although every effort has been made to provide complete and accurate information, Meratas Inc. makes no warranties, express or implied, or representations as to the accuracy of this content. Meratas Inc. assumes no liability or responsibility for any error or omissions in the information contained herein or the operation or use of these materials. Copyright 2022

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