consolidate default loan student

Students struggle with $13bn debt

MORE than a million Australians have racked up $13 billion in student debt. Of this, $2.5 billion is not expected to be repaid.

Average individual debt has risen from $4787 in 1996 to about $10,000.

Student debt under the Higher Education Loan Program has soared from $4 billion in 1996 to a record $13.2 billion.

Queensland students' bill is about $2.15 billion.

Figures reveal 1.18 million Australians have student debts with 1084 owing more than $50,000.

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Credit card debt a challenge for college-age students

With offers of loans and credit constantly filling the mailboxes of college-age students, few escape those years without some debt.

For the most part, student loans are expected. With their low interest rates and grace periods before payments begin, they are, according to many credit experts, one of the best ways to borrow money.

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