Student loan debt is a hot topic among the current crop of
presidential candidates, and with good reason. The graduating class of
2015 has the most student debt ever in U.S. history.
[Related: Students With Lowest Debt Most Likely to Default]
And African American students fare worse. Black Enterprise Senior Finance Editor Stacey Teasdale writes,
“More than 40% of African American families have student loan debt.
African American families also carry more student loan debt than other
groups: $10,295 on average compared with $8,020 for white families…”
Debt from student loans is not only a financial burden, but can
negatively affect the debtor’s future. More than 20 states have laws
that could revoke borrowers’ professional licenses if the loans slip
into default. The laws affect lawyers, teachers, nurses, and other
professionals who need licenses to work in their fields. Some states can
even revoke driver’s licenses.
The best course of action is to tackle loan debt head on.
Fortunately, there are several great technology tools that can aid in
managing student loan debt. Here are some of the best tech tools for
managing student loans:
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