student loan repayment
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Most graduates fear being unable to buy home
More than half of all final year undergraduates worry about being unable to buy a home after completing their studies, a new survey reveals.
The Guardian's Grad Facts 2006 survey, published today, suggests that low salary expectations, combined with the prospect of student loan repayments, mean most graduates fear they will be unable to buy a property within the first years after graduation, especially in London. Graduate first salaries average £18,000, increasing to £24,000 after two years' employment.
However, the research reveals that the ethical record of a prospective employer is apparently more important to graduates than the size of their wages. Only 26% of those surveyed deemed an "excellent salary" extremely important in a prospective job. Most students rated "being challenged" and "putting something back into society" more important career objectives.
More student loan repayment info
THE COLOR OF MONEY: Deadline near for student-loan consolidation
WASHINGTON Just as hurricane season comes every year, so too does the quandary of whether students and their parents should consolidate student loans.
This year, the answer is fairly easy for most borrowers: Yes. The deadline for con solidating to get the best interest rates is June 30.
By law, interest rates on most existing federal student loans are variable and are calculated based on a formula that uses the interest rate of the 91-day Treasury bill set at the last auction in May.
That auction took place May 30. The interest rate for the one-year period beginning July 1 will be 6.54 percent for borrowers who are in school or in a grace or deferment status. Loans for borrowers in repayment will be set at 7.14 percent.
Although lenders make it seem as if consolidation is a no-brainer, I've received a number of e-mails from parents and students seeking a little more clarification.