EDUCATION
SPECIAL SECTION:
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.
• 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
safety concerns across the country. Teachers, administrators,
families, and community groups are putting a critical focus
on social-emotional learning activities to facilitate a better
look into dealing with anger management, conflict resolution,
empathy, and other important life skills. School is often the
only place where social and emotional learning deficiencies can
be addressed; therefore teaching students these invaluable life
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