Bankruptcy filers often have student debt

Student loan debt prevalent among bankruptcy filers

(WWBT) - With the help of data provided by Upsolve, a new study from LendEDU found that 32 percent of people that file for bankruptcy also carry student loan debt.

The study also found student loan debt makes up about half (49 percent) of their total debt.

So, even those filing for bankruptcy still have about half of their total debt left to repay in the form of student loans.

The real take-away is try to figure out exactly what college will cost if your child is close to graduating.

Give community colleges a hard look. Think about transferring after a year or two.

There’s a lot of money out there for deserving students look for scholarships and grants on apps like Scholly. And remember, you should always exhaust your scholarship and federal financial aid options before you consider more expensive private loans.

Copyright 2019 WWBT. All rights reserved.