Career College Central Summary:
-You need to know the terms under which you'll have to pay your loans back. Some loans offer payment deferment options or interest subsidies, while others start the finance-charge clock running as soon as you graduate or require immediate monthly payments.
-Thanks to the Public Service Loan Forgiveness program and similar options, many borrowers can have student loan debt forgiven if they qualify by working in certain professions, including teaching, public-interest law or medicine, or the military.
-If you're considering a graduate degree, be sure to closely consider the extra costs of years of additional education and compare them against the potential benefits.
-Consolidating your loans can reduce your monthly payment, which is attractive to cash-strapped 20-somethings. But it also extends the period over which you're repaying those loans, potentially leaving you saddled with debt for decades
-With tax-advantaged 529 plans and Coverdell Education Savings Accounts, you can put money aside and have it grow tax-free for use on educational expenses.