Student Loan Payoff - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

Student Loan Payoff

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With graduation less than a month away, many students have the dawnting task of having to start paying off their student loans. Student loans can be a nightmare for some students. Many struggle to keep their heads above water after graduation.

The average U.S. student loan debt climbed to almost 28 thousand dollars in 2012, a 58% increase in just seven years. At Midwestern State University, students are dreading but are remaining optimistic when it comes to paying off their debt.

Some students say they will go to financial aid classes offered by the school to find out the best method to get loans taken care of, while others say they just try to keep everything to a minimum.

To help students manage their loans, MSU offers free money management courses online, financial awareness counseling and helpful resources at the financial aid office and website. They encourage students to take advantage of all the information available to be better educated about loans.

MSU encourages students to reach out to the school as well as the loan service provider to help negotiate payment plans. Students at MSU say although student loans can be a pain, it has definitely been a great factor in helping achieve their prospective degrees.

Cynthia Kobayashi, Newschannel Six.