Welcome to Student Loans
Best Student Loans Article
This is a selection made from among articles on Best Student Loans. For a permanent link to this article, or to bookmark it for future reading, click here.
from:
Young Britons See Debt 'As The Norm'
Tom Dawson
Young people are increasingly struggling to manage their
finances, new figures show.
According to a study released by youth charity Rainer, more than
three-quarters of the 18 to 24-year-olds surveyed claim to have
been in some form of debt, whether this be through loans, credit
cards or another means of borrowing. Meanwhile, a third of young
people questioned have been more than 5,000 pounds in the red
while a fifth of respondents have owed over 10,000 pounds. And
with a fifth of consumers in this age group having 50 pounds or
less left at the end of the month to pay for food and other
expenses after making payments on bills and debts, such as
loans, young people appear to be struggling greatly to manage
their money.
Joyce Moseley, chief executive for Rainer, said: "Young people
tell us that being in debt is now just part of the norm, but it
can quickly become a millstone around their neck. In addition to
the stress it can cause, there is strong evidence that debt can
prevent young people from living independently or taking part in
education or even eating healthily."
Just under half (49 per cent) of young people are in debt via a
student loan, while overdrafts and credit cards are also used
"heavily" by 38 and 32 per cent of people respectively. Findings
from the firm also revealed that those consumers who are
vulnerable in other areas of their lives are usually hit the
hardest by money management difficulties, as 85 per cent of
homeless young people are in debt.
As a result, the charity claimed that young people need more
guidance on handling their money, with a cohesive approach
towards fiscal management and debt also needed by financial
services firms. Ms Moseley added: "Most young people say if they
are in debt they turn to parents or close family for help, but
the young people we deal with can't do that."
For those struggling to cope as a rising number of debts takes
up more of their disposable income, deciding to take out for a
debt consolidation loan may well be a wise choice. In doing so,
borrowers could be able to pay off money owed to various
creditors quickly and so be left with more disposable income as
they would only need to make one low-rate monthly repayment.
Earlier this year, the idea of young people experiencing
financial difficulties was reflected in a study commissioned by
ClearDebt, which was carried out on Facebook, showing that 48
per cent of the 200 18 to 24-year-olds surveyed are currently in
debt. The study also showed that 14 per cent of respondents
think they will be in the red by 2012, with seven per cent
stating they could be in arrears within the next ten years.
In addition, the research suggested that women could be the most
likely to be paying back personal loans, credit cards and other
types of borrowing as 50 per cent of the females questioned are
presently in the red, with this falling to 45 per cent among
men. And although 40 per cent of males surveyed claimed that
they will never get into problems with debt, Andrew Smith,
marketing director for the financial services firm, suggested
that such consumers are being "rather over-optimistic".
About the author:
Tom Dawson is the Editor in Chief for Essentially Home Loans
where visitors can apply for
online. We also specialise in
ans.html">debt consolidation loans, and
 |
 |
Warning: file(http://www.searchfeed.com/rd/feed/TextFeed.jsp?trackID=&pID=&cat=best+student+loans&nl=5&page=1&excID=) [function.file]: failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found
in /home/genejohn/public_html/yourcollegefunding/datas/searchfeed.php on line 8
Best Student Loans Specific links
Best Student Loans News
How to Get a Student Loan with No or Bad Credit History - FPRD (press release) (blog)
How to Get a Student Loan with No or Bad Credit History FPRD (press release) (blog) Experts will examine your application and assures the best possible car loan rates. You will obtain your free, no-obligation auto loan quotes. ... |
What's that sound? Student loan debt tick, tick, ticking up. - Washington Post
 New York Times (blog) | What's that sound? Student loan debt tick, tick, ticking up. Washington Post Mark Kantrowitz, publisher of FinAid, one of the best Web sites for college financial aid information, has posted the Student Loan Debt Clock at ... Public Colleges' Debt Outpaces Financial Resources Digging Out of Student Debt How to Get through College with Less Student Debt |
New College Website Simplifies Loans for Students - Bluhalo (blog)
New College Website Simplifies Loans for Students Bluhalo (blog) The student-friendly website goes beyond simply offering a list of loans; undergraduates can peruse a new blog, with tips on how to start the new school ... |
Proposed change shines light on student loan repayments - Montgomery Advertiser
Proposed change shines light on student loan repayments Montgomery Advertiser When it comes to repaying federal student loans, Alabama State University has the worst estimated repayment rate ... |
Student Complaints Rising at For-Profit Schools - CBS News
 CBS News | Student Complaints Rising at For-Profit Schools CBS News Basic outcome was that I did not have to pay back any student loans, and as best I can recall, neither did anyone else; our "diplomas" were worthless, ... |