Students +loans = debt - WALB.com, Albany News, Weather, Sports

Students+ loans= debt

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By Ryan Houston - bio | email

ALBANY,  GA (WALB) –More than 1.5 million students will graduate this year with bachelor degrees. Most students are receiving student loans which  can lead to debt.

"Right now I owe $8,000," said Tracy Peaby nursing student.  "Right now I'm in 10,000," said ASU student Daniel Ola. 

Those amounts are common. In fact it's not unusual for students to rack up 30 to 40 thousand dollars in loans. "Student loans are a double edge sword," said Ola.

"You'll pay it off eventually, I think," said ASU student Nicole Wise.

College Kids from different backgrounds had similar thoughts. "It's kind of overwhelming at times when you think about it," said Peaby.

But thinking and planning are a must. Financial Aid Officers say there are plenty of options when it's time to pay up."Explain the options, the different types of payments and if they need to consolidate," said Financial Aid Director Thomas Harris.

Consolidating is a good idea if you've had more than one lender. Entrance and Exit loan counseling is available. "Alot of students ,get loan information it"s given to students on the front end and then a brief reminder of rights and responsibilities," said Harris. @ 

Even though college debt is often unavoidable, many students try to stay positive. "Obama just finished paying off his loans for school, and how old is he," said Wise.

"I want to get it off my back that big purple monkey and pay it off simply and easy," said Ola.  Facing the giant head on is the best solution. ©2010 WALB News. All rights reserved.