Understanding Student Loan Repayment Options

Student debt is at an all time high and one organization is helping Idaho teachers navigate the loan repayment process.

In 2018, total student debt was more than $1.5 trillion in the U.S. and the average student debt is estimated to be just shy of $40,000.

Teachers in Idaho are required to hold a bachelor's degree and for many, that means taking out some student loans. There are multiple repayment plans for these loans, but the process is often confusing.

To combat that problem, the Idaho Education Association is making sure Gem State teachers know their options, so they can focus on teaching rather than stressing over finances.

President of Idaho Education Association Kari Overall says, "So we've created a class whereby we help educators know how to navigate that process at the federal level: what different loan plans are available, what payment plans are best, how they can consolidate those loans, what they can do with them; and we want to make sure that educators who come into the classroom are able to pay off their debt in a way that makes sense, and understand the different practices that are out there."

For more information on all the IEA offers Gem State teachers, visit idahoea.org

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