How To Manage Debt
Posted by medliorator on September 4, 2007
Average educational debt
- $130,571 – According to the Association of American Medical Colleges, the average educational debt of indebted graduates of the class of 2006 (including pre-med borrowing).
- 72 percent of graduates have debt of at least $100,000
- 86.6 percent of graduating medical students carry outstanding loans
- 40.2 percent of 2006 graduates have non-educational debt, averaging $16,689
7 Tips For Managing Your Student Loan Debt
- Just because you can borrow more doesn’t mean you should.
- I still say buy versus rent.
- Max out your subsidized loan borrowing power first.
- Pay interest on your unsubsidized loans if you can.
- Avoid private loans if possible.
- Get those credit cards paid off. If you have additional borrowing power on a federal student loan, borrow the extra amount to pay off your credit card in full. Do this only once.
- Consolidate your loans while you’re still in school.
7 Tips For Managing Your Student Loan Debt [Med School Hell]
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