• New report shows college grads are struggling to pay back student loans

    By: Beth Rousseau , Action News Jax

    Updated:

    It’s no secret, college is expensive.

    Sebastien LeBranche, a student at UNF, told Action News Jax, “Overall it's been a good experience, but pricey.”

    Many students turn to loans to make their higher education dreams happen, but a new report shows college grads are struggling to pay back what they borrow.

    “They just can’t find jobs because they have to go further in education, or master's so that’s another financial burden,” said LeBranche.

    Student Loan Hero lists Jacksonville sixth in the nation on the list of locations where borrowers are falling behind.

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    According to their research 22% of borrowers have been delinquent on their loan repayment.

    Students said the loans are paying for housing, food, books and extracurricular activities – not just tuition.

    UNF Director of Financial Aid Rodrick Andrews explained the best way to avoid delinquency is to not take out the loan in the first place.

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    “Do not use it to live more extravagantly than you can afford,” he said.

    Andrews says the worst thing to do is avoid creditors when they call.

    Students explained the added financial burden makes college much more challenging. 

    “It’s a lot of studying, a lot of just making sure you’re on time with your studies, it’s a lot to handle,” said LeBranche.
     

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