debtconsolidationconnection.com
501 (c)(3) non-profit Organization
Free Consultation
Lilyslist helps recent grads with loans
By Angela Hawke on Sep 8th, 2010
Student loan debt in the U.S. ticked past $848 billion last week, according to FinAid's real-time online calculator. With more new graduates without steady incomes due to the lowly job market, many have no way to pay off their debt in a timely manner.
Analysts say many grads have found a new tool to help them make their loan payments: online registries. Sites such as Lilyslist.com, EducationRegistry.com and UponOurStar.com give college students the opportunity to register for accounts where visitors can donate money to their cause, the Chicago Sun-Times reports. Friends, family members and even anonymous donors can give cash to recent grads to help pay off their student loans.
"Most people aren't going to be able to zero out their student loan debt this way, but it could make a real difference for people," said Edie Irons, a representative at the Institute for College Access and Success, the news provider relays. It could be more helpful than a blender or microwave or crockpot."
Students with outstanding loan debt can cause damage to their credit scores. This may make it difficult to borrow home and auto loans in the future. Graduates can consider consolidation to lower their monthly payments and gain a better grasp on their finances.
More Debt Consolidation News
