Student Loans
The average federal student loan debt is $37,338.
48.9% of borrowers take over 20 years to pay student loans off.
The fed reports the average student loan PAYMENT is $250/month.
Student loans can have a devastating impact on an individual's financial freedom. It is crucial for you and your family to avoid them whenever possible. Given the sacrifices you have already made, it is important to find alternative ways to pursue education without taking on significant debt. This module will briefly cover some techniques and things to consider for receiving higher education at the lowest cost possible. This module will also discuss repayment strategies for existing student loans.
Your education is an investment. When choosing a career path consider things such as the cost of your degree and the wage associated with that degree. Make sure there is a good return on investment. Do not rule out trade school; plumbers and electricians make great wages and their training is relatively cheap.
Service Members and their families have access to various education benefits, such as the GI Bill, Tuition Assistance (TA), and grants designed for military spouses. These benefits can provide opportunities for pursuing education without accumulating debt. While Operation Financial Forward does not provide detailed expertise on these benefits, we encourage you to explore resources like Military One Source and your local on-post education center to learn more about available education benefits. Our investment
DID YOU KNOW?
If you have worked in public service (federal, state, local, tribal government or a non-profit organization) for 10 years or more (even if not consecutively), you may be eligible to have all your student debt canceled. More information on this can be found on https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service.