Student Loan Debt Pitfalls

Our friends at Squared Away * blog have just come up with a holiday “gift” for those with (or contemplating) student loans.  The article titled: Student Loan Repayment: 12 Rules (December 6, 2016) is something I wanted to share with you immediately.

If you know someone who has a student loan, encourage them to read the article.

The Squared Away blog outlines twelve major considerations of repaying student loans and offers solid advice on some ‘pitfalls’, for example “default”; “forbearance” and “debt relief” companies. There are also links to the federal website for more information.


“A deferment or forbearance allows you to temporarily postpone making your federal student loan payments or to temporarily reduce the amount you pay. … A deferment is a period during which repayment of the principal and interest of your loan is temporarily delayed”

Further – from the federal site: “What is forbearance? If you can’t make your scheduled loan payments, but don’t qualify for a deferment, your loan servicer may be able to grant you a forbearance. With forbearance, you may be able to stop making payments or reduce your monthly payment for up to 12 months. Interest will continue to accrue on your subsidized and unsubsidized loans (including all PLUS loans).”

Know That You Are Not Alone…if you have student loan debt. According to some statistics the value of student loan debt in the U.S. in 2016 was a staggering $1.3 trillion, spread out over 44 million borrowers.

In an article titled: The college debt crisis is even worse than you think by By Neil Swidey (The Boston Globe-online) is that with respect to lower income students: “more troubling, many of these low-income students — and, at some colleges, most of them — are not graduating. That means these non-completers are leaving campus saddled with lots of debt but none of the salary gains that traditionally come with a bachelor’s degree.”

*( (You can sign up for the free subscription to the blog)

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About Attorney Barbara Ann Dalvano

Attorney in Denver, Colorado with extensive practice experience in the areas of Estate Planning, Wills and Trusts, Business Succession Planning, Probate, Contract Law.

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