Do you Understand your Student Loans?

Though it's not news that the economy has effected every part of our lives, I was taken aback when I read that outstanding student loans in the United States are estimated to exceed one trillion dollars by the end of the year. How does this even happen? Has the economy grown so bad and the public grown so reliant on loans that undergraduates (present and future) will live a majority of their lives paying back this debt? What kind of jobs and salaries will be needed for young people to stay afloat?

This article sheds some light on what got us in this mess. I was surprised to find that currently Americans owe more on student loans than on credit cards. Even worse, students are relying on loans to get through college.

The College Board reported that, "full-time undergraduate students borrowed an average $4,963 in 2010, up 63% from a decade earlier." It's crucial for recent graduates, current students, and young professionals to understand student loans before going into debt. These guidelines should help you as you move forward. Good luck.

Amy M worked in corporate public relations for three years before returning to graduate school to become an English and Social Studies teacher. She is also a freelance writer for CollegeJobBank.Com. In her free time, Amy likes to practice yoga. She is a self-proclaimed 'American history nerd.' Read more of her blogs at collegejobbankblog.com. Find jobs and other information at Nexxt.