total amount borrowed after graduation,
but beware, as this leads to owing even
more money when it comes time to start
paying off the loan. Direct PLUS Loans
provide graduate students or parents the
opportunity to borrow the total cost of
attending college, minus other financial
aid received.
Unlike the loans mentioned above
that are sponsored by the federal
government, state and private loans
are sponsored by banks, colleges,
foundations, and state agencies. The
U.S. Department of Education manages
all college loans available by state
and requires students to be in-state
residents or enrolled in a college in that
state. Private loans are an option for
borrowers but come with terms and
conditions that may not be as favorable as federal loans.
Private loans also require a cosigner who is responsible for
repaying the money if the student fails to do so.
Managing Debt Post-College
Student loan debt continues to increase and has become a
burden on both graduates and the U.S. economy. There are
a variety of loan repayment options for students. Here are
some tips on how to approach repayment.
• Figure out what you’ll owe and start to save early –
Creating a budget early will allow you to build a solid
foundation for repayment after graduation. Setting aside
money each month toward future savings for repayment
will set you up for success come graduation day.
• Understand your repayment options – There are several
different options available to start paying off student
loans based on the type of loan you received. Common
federal loan plans include standard, graduated, extended,
or income-based. Standard plans are payments in fixed
amounts that ensure loans are paid off in 10-30 years
(these payments are often very high for new graduates).
Graduated plans are payments that start out lower and
increase every two years, also ensuring loans are paid off
within 10-30 years (based on loan). This plan assumes
you’ll continue to make more money as you continue your
career path, so additional money is allotted to repayment
as you go. Extended plans may be made in a fixed amount
or a graduated amount and ensure payment in full within
25 years. Income-based plans take 10-15 percent of your
discretionary income and are recalculated each year.
Once you are married, your spouse’s income will also be
considered, if filing jointly on tax returns. Any outstanding
balance on the loan will be forgiven after 20-25 years.
• Consolidate for ease – If you have multiple federal loans,
consolidating them into one can make repayment easier.
But there may be fees or other conditions associated with
consolidating, so be sure to do your research.
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• Is forgiveness an option? Some programs offer loan
forgiveness if you meet certain criteria or work in a
particular field. People in government, nonprofit, and other
public service jobs may have the remainder of their loans
forgiven after 10 years of service. Additional forgiveness
options are available for nurses, teachers, AmeriCorps
and Peace Corps volunteers, and some state and private
programs.
Pre-K – High School
The first public school opened in the United States in 1635,
and the Boston Latin School remains the nation’s oldest public
school. Early education didn’t focus on math or science, but
on the virtues of family, religion and community. Nearly 400
years later, schools are harnessing the fundamental principles
of community, and although it may look very different in this
day and age, a strong focus is being put on the importance of
creating a safe school culture and tapping into technology for
limitless learning.
In 2019, students, parents, teachers, and administrators are
seeing changes both inside and outside of the classroom. One
of the biggest changes in recent years comes in the form of
technology. Artificial Intelligence (AI) continues to change
education tools and is expected to increase in implementation
in U.S. classrooms by 47.5% in the next three years, according
to the Artificial Intelligence Market in the U.S. Education
Sector report. In addition to AI, other technologies are
providing students with the opportunity to connect with
classmates in other countries, giving teachers the ability to
educate a virtual classroom from the comfort of their own
home, and expanding access to applications that were once
inaccessible.
Another key focus in education this year is on ensuring
that students feel safe, connected, supported, and challenged
through a variety of different ways. School culture and safety
are being addressed and adapted based on recent school