In Nebraska, the average student loan debt for graduates from four-year colleges is $32,400. Keep your debt manageable by following these tips. SMART STRATEGIES FOR MANAGING STUDENT LOANS
Source: Education Data Initiative
CHOOSE THE RIGHT SCHOOL FOR YOU Transferring schools can lead to extra years of study and more debt. Take your time to find the perfect fit. BORROW ONLY WHAT YOU NEED Use loans for essential costs like tuition, books, and housing. Avoid borrowing for extras like dining out or entertainment. BALANCE YOUR DEBT AND FUTURE SALARY Research starting salaries for your career and compare them to your estimated student loan debt. Try the Debt-to-Salary Calculator at MappingYourFuture.org to ensure your future income can cover loan payments. WORK WHILE YOU STUDY A part-time job can offset personal expenses and reduce how much you need to borrow. TRACK YOUR LOANS REGULARLY Visit StudentAid.gov to monitor your federal student loans and avoid surprises when you graduate. PLAN AHEAD FOR REPAYMENT Rempayment starts once you graduate, so be prepared. Understand Your Options: Research repayment plans like income-driven repayment or extended plans to lower monthly costs. Make Early Payments: Paying even a small amount toward interest while in school can save you money in the long run. Use Free Tools: Try the Student Loan Simulator at StudentAid.gov to see how different repayment options affect your budget.
ESTIMATED LOAN PAYMENTS OVER 10 YEARS
Direct Loan for students
PLUS Loan for parents
6.39% interest
8.94% interest
Amount Borrowed
Monthly Payment Amount
$3,500 $5,500 $8,000 $12,000 $13,500 $19,000 $23,000 $27,000 $31,000
$50 $62 $90
$50 $69
$101 $152 $171 $240 $291 $341 $392
$136 $153 $215 $260 $305 $350
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