The fact that student loan debt is on the rise should come as no surprise to the millions of students that owe on their student loans. Research conducted in 2012 indicates that more than 20% of all U.S. households – fully 37 million Americans – owed a combined $1 trillion to public and private lenders. More stagger still than these statistics, however, are the term implications that such debt can have. Because those who struggle with student loan debt often put off buying a home, starting a business, getting married, or even having children, borrowers can lag behind their debt-free peers when it comes to personal and career development.

For those domestic and international students who have private student loan debt, it is important to see if you can adjust your loan’s repayment terms. If you are struggling and seeking advice, there are numerous resources that can help you explore the complexities of loan repayment. While all-purpose debt education resources like GreenPath University (an online resourced that provides visitors general purpose financial education information) can be useful, such generic advice best augmented by private loan specific resources like International Student Loan.

Of course, the best offense is often a good defense. In the case of student loans this means that borrowers should only borrow what they actually need. Also, they should know – and understand – the terms of their loan so that they know exactly how much they will have to pay and when. Costly mistakes are easier to prevent than undo, so do the due diligence and success will follow!

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