Money Management Center to host student loan workshop

Money Management Center to host student loan workshop

April 08
22:29 2013

Ben Peyton / Senior Staff Writer

The Student Money Management Center offers one-on-one student loan advising in Chestnut Hall, but is hoping that they can increase their services to the student body through workshops.

Paul Love, Organizational Behavior and Human Resource Management senior and the Student Money Management Center, will lead a workshop today from 5 to 6 p.m. in room 317 of the General Academic Building. He will talk about the options students have in repaying their student loans.

Love said the whole student loan process is a balancing act of proper budgeting and repayment planning.

“As important as the student loans are to pay back, you can’t pay it back if you don’t have money to pay your rent,” Love said.

The presentation will consist of a PowerPoint focusing on knowing whom you owe, how much you owe, repayment options and providing resources, Love said.

English Literature graduate student Rebecca Stevens said that aside from the required paperwork during the loan application process, she has not received any advising, but does not feel concerned.

“I kind of figured that out on my own,” she said. “I live on my own I pay my bills.”

The biggest problem that students face with student loans is a lack of information on repayment options and who to pay, Love said.

Stevens has accumulated about $80,000 in student loan debt and hasn’t determined a repayment plan.

About 60 percent of college students borrow annually to cover expenses, according to the Chronicle of Higher Education.

Love estimates that the average student loan debt per person at UNT is between $25,000-30,000 dollars after graduation, Love said.

Love also warned against accepting too much student loans.

“Know how much you need and actually have a plan ahead of time before you graduate,” Love said.

Undeclared freshman Jose Hernandez said he received some guidance from high school counselors and expects to complete his undergraduate degree with “not too much” debt from student loans.

Pre-psychology senior Zach Vazquez said he took out a student loan for the first time this semester and plans to graduate and pay back his loans with graduation money and income.

For more information about the workshop or Student Loan advising contact the Student Money Management Center at 940-369-7761.

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