Recently a friend graduated from law school after 4 years of hard work. It did not take him long to find employment with the local States Attorneys Office. It is a good entry level job and he was thrilled to get it. After about 3 weeks on the job he started getting letters from the assorted banks that were keeping his student loans informing him it was time to start production payments.
The four loan packages he had used to get his law doctorate amounted to a wee more than 0,000.00. Each loan package had a different cost date and each had a different interest rate. Two were 15 year loans and two were 10 years. It was not long before the enormity of his student loan debt hit home. He was worried that he might miss a cost and truly wished the cost date was the same for each loan.
couple Your pupil Loan and sacrifice Your Debt
When he went to the local car dealership to purchase a good used car he was surprised to find that his prestige score was too low to general interest car loan. The four student loans combined to lower his prestige score to 610. He would only qualify for the high interest High risk loan. He also had no option but to pass on his vehicle purchase. He like many college students do not comprehend the impact of any loans and a wee employment report could have on a prestige score.
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