Radio Smart Talk: Student loan debt

Radio Smart Talk for Wednesday, May 15:

Its common today to hear recent college graduates say their number one priority is to find a job or start their career. Next on the list for many of them will be to pay off their student loans.

The average loan debt for today’s graduates is $26,500.

What many graduates are finding is good paying jobs are hard to come by and sometimes they have to settle for employment that makes re-paying a loan a challenge along with affording all their other expenses.

At the end of 2012, total outstanding federal and private student loan debt was estimated at $1.1 trillion — that’s up 30% in just the last five years.

The situation has reached a point where many believe the amount of debt could slow down the economy.

As a result, the Obama Administration has proposed a student loan forgiveness program if a debtor pays 10% of the income after basic expenses over 20 years.

On Wednesday’s Radio Smart Talk, we’ll study student loan debt and look at the options.

Appearing on the program will be Varo Duffins, Associate Director of Financial Aid at Franklin and Marshall College and Paul Maulfair, CPA, Vice President and Tax Director, Corporate Controller Group, at Susquehanna Bancshares.

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