ASHLAND, Ore. – It’s finals week at Southern Oregon University, but exams may be the least of the worries for some students in the long run. Some students will be getting their diploma this month, but in six months, the massive payments will start rolling in and that means the pressure is on to find a job and quick.
Reports show student debt is growing and totals nearly a trillion dollars. A student NewsWatch12 spoke with says his student loans have impacted his class schedule, but he is going to make sure they don’t impact his dreams. Southern Oregon University Senior, Robert Cochran, has big dreams after graduation in may. He hopes his student loans won’t stop him from reaching his goals.
Cochran has already accomplished much in his time at SOU, he is the first in his family to ever go to college and is Student Body Vice President. He’s hoping to either get into grad school or hit the job force before his first loan payment is due six months later.
A counselor with the Consumer Credit Couling Service of Southern Oregon, Lynn Mihalyo, said there are advantages to having a federal loan as opposed to a private loan. Cocharn says his peers talk about how they are already in credit card debit and may need to depend on their charge card to get by after graduation, something Mihalyo urges graduates to avoid.
Cochran says student loans should not discourage people from chasing their dreams. Although student loan debt is increasing, the number of students with loans is also increasing.