Las Vegas, NV—
A recent survey conducted by Edvisors of 1,000 students revealed that most students had realistic expectations regarding the necessity of borrowing funds to attend college and their expected earnings after graduation. However, the majority of students lacked confidence in their ability to repay their student loans following graduation.
The survey also revealed that 77% of students expected to borrow money to finance their education, with an average amount of $25-$30K in student loans. Most students also expected to earn between $50 and $75K annually for their first job after college. Half of students also expected to have other forms of debt at graduation, such as credit cards and car loans. However, 78% of students were not confident or hopeful they would be able to repay their student loans.
“The cost of a college degree can be daunting, but there are many benefits to opting to get a degree. A college degree can open doors to higher paying jobs and career opportunities,” explains Elaine Rubin, Director of Corporate Communication at Edvisors. “Earning a college degree can also provide a sense of accomplishment and pride. However, it’s important for students to be prepared for the financial costs once they begin their career after college. Right out of college, it can be challenging to earn income for basic living expenses, and difficult to budget their paychecks to accommodate monthly student loan payments.”
It is best to take steps to reduce financial risk while in school. For students looking to offset the cost of college, they should consider applying for scholarships, looking for internships, or working a part-time job.
For more information regarding the survey results, please visit: https://edvisors.com/blog/repaying-debts-after-college/
Edvisors recently launched an initiative to offer student loan repayment relief. Each quarter, one winner is chosen from all entrants to win $2,500 to help pay down their student loan debt. For more information and to enter, please visit: https://www.edvisors.com/repayment-relief/
About Edvisors: For 20 years we have been known as one of the largest and most trusted resources to help students find their path to success. Everyone needs to find their own path, and we know that first-hand. We work to provide information from both our professional and personal experiences, to help individuals through college and beyond. Every year, millions of students and their families turn to the company’s flagship site, Edvisors.com, for timely, accurate information, advice and tools that help them confidently make the best decisions about paying for college. Additionally, Edvisors owns ScholarshipPoints.com, where students earn points to enter scholarship drawings (the site has awarded over $1 million to date). Founded in 1998, Edvisors is based in Las Vegas, Nevada. More information can be found at www.edvisors.com.