In this era of advancement, ambitions are very high. Due to the high cost in education today, most students are dependent on student loans to continue their education. Along with the cost in education, the modern consumer goods have also prompted students to step into debt problems. An average student usually gets into debt without thinking of financial problems in the future. They are also not sure about their resources to repay the debts.

The frequent use and acceptance of credit cards in all financial transactions have made it easier to take loans now and return later.

• In 2001, the average public school student left college with $17,000 in student loan debt and the average private school student left college with $21,200 in student loan debt.
• In 2004, the average undergraduate student carried a credit card balance of $2,167 and the average loan and credit card debt for graduate students in 2004 was $21,000, according to a leading provider of student loans.

The demand for Student Loans has grown at a rapid pace. Keeping in mind the present scenario the US Department of Education and other institutions have contacted the private collection agencies to collect overdue student loans. Financial aid or a student loan covers the education costs that you can't pay for. Most financial aid is awarded to families on the basis of eligibility or need, which is determined by the school you attend. This is based on information you provide about yourself and your family's ability to pay for your education costs and formulas set by law for a student loan.

For those students who are down with debts we advise them to take up our free counseling. A debt consolidation expert will guide them towards freedom from loans. The strategic guidelines of debt consolidation are all set to bring back credit worthiness for the student in debts.