According to a 2019 study from College Ave Student Loans, 93 percent of students who have student loans expect to leave college with student loan debt.
With all of this in mind, I feel very strongly that parents should counsel their kids about all types of debt, including student loan debt.
One way to check to see what student loan monthly payments could look like (and if your child can afford them) is to use the College Ave Student Loans student loan calculator.
Since some student loans can come without prepayment penalties, parents should also go over the benefits of paying more than the minimum payment on student loans.
Students don’t have to stick with the student loans they have if other options are available, and they should consider the prospect of refinancing their student loans when they graduate and have good credit to get a better deal.

Comments to: Here’s Everything Parents Should Be Teaching Their Kids About Student Loans

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