Rookies Guide To Repaying Student Loans

Recent college graduates tend to fall behind on paying their student loans. Mark Kantrowitz, a student loan expert, estimates one-quarter to one-third of borrowers are late paying their first student loan bill, and the first bill isn't even the worst bill. The Federal Reserve Bank of New York determined 35% of people under 30 were 90 or more days late on their student loan payments each month in 2012. Although delinquency might seem normal, the tardiness of payments is damaging credit scores of many young adults. One of the main reasons recent graduates are falling behind on loans is due to their lack of knowledge of how many loans they actually have, how/when to pay them back efficiently, and how to utilize programs to help people who can’t afford the full payments.

To help students understand their loan, a new student loan calculator has been introduced. It will be able to tell you the average student loan debt at specific universities, the salary you might need to make the debt affordable, and different repayment options, along with the new student loan calculator. The article provides a basic guide for rookie student loan debtors to help people avoid the most common types of trouble.  


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Nick Banks

Nick created Front Street Commercial Real Estate Group in 2002 and spent the first eight years developing and acquiring office and retail projects in South Florida as well as North Central Florida. In 2010 the focus of the firm was shifted to primarily serve third party clients and perform brokerage, property management and mortgage banking functions. Nick has personally developed and acquired nearly 200,000 square feet of office and retail properties in markets throughout Florida. Prior to founding Front Street, Nick was the Director of Finance and Dispositions for Stiles Corporation in Fort Lauderdale where he financed and sold over $500 million in commercial real estate. Before joining Stiles, Nick was an Associate Director at GE Capital Real Estate where he sourced over $200 million in financing throughout Florida. Nick is a graduate of the University of Florida with a degree in Finance and a concentration in Real Estate. He serves as a board member and current vice-chair for the United Way of North Central Florida where he also chairs the Development Committee. Nick is actively involved with the Gainesville Area Chamber of Commerce where he serves as a board member and committee member for the Council for Economic Outreach. He is also a recent graduate of Leadership Gainesville which is a year long leadership program hosted by the Chamber. He is a member of Grace United Methodist Church where he has served as finance chair and as a member of the leadership council. Nick serves as an advisory board member of the University of Florida Bergstrom Center for Real Estate Studies. Nick was recently named chair of the Gainesville committee for the North Florida chapter of Urban Land Institute (ULI). He is a licensed real estate broker in the State of Florida and is a long time member of the International Council of Shopping Centers.

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