Paying for School or a Vocational Training Program
Do Better Than A Student Loan.
The average student has over $37,000 in student debt and a monthly student loan payment of $393. More than a million people default on their student loans each year, and roughly 1 out of 4 students default on their student loans within 4 years of leaving school. This will get worse as nearly 18 million more people are expected to default on their student loans in the next 5 years. A student loan default sinks your credit score by about 60 points, which makes it harder to get a credit card, buy a house, and even get a job. And student loans can't be discharged in bankruptcy, meaning that default and bankruptcy can't solve the problem of unaffordable monthly payments. In fact, defaulting on your student loans usually makes them your monthly payments more expensive.
Now take a deep breath and relax, Bisota is here to help. The first step is to understand your options for paying for school. Download our Higher Education Financing Guide below to learn about your options for paying for school.