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    amount borrowed per student each academic year was over $20000 (Stafford and/or Perkins Loans). This figu
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    Student loan debt is extended to students to help them fund their college education. These loans, which are granted by a range of different sources have to be repaid with interest in the years following graduation.

    These days, borrowing for educational purposes is commonplace. In the US, more than two-thirds of undergraduates use some kind of student loan debt to fund their education. And in 2005 the average amount borrowed per student each academic year was over $20000 (Stafford and/or Perkins Loans). This figur
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    re granted by a range of different sources have to be repaid with interest in the years following graduation.

    These days, borrowing for educational purposes is commonplace. In the US, more than two-thirds of undergraduates use some kind of student loan debt to fund their education. And in 2005 the average amount borrowed per student each academic year was over $20000 (Stafford and/or Perkins Loans). This figu
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    These days, borrowing for educational purposes is commonplace. In the US, more than two-thirds of undergraduates use some kind of student loan debt to fund their education. And in 2005 the average amount borrowed per student each academic year was over $20000 (Stafford and/or Perkins Loans). This figu
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    rds of undergraduates use some kind of student loan debt to fund their education. And in 2005 the average amount borrowed per student each academic year was over $20000 (Stafford and/or Perkins Loans). This figu
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    amount borrowed per student each academic year was over $20000 (Stafford and/or Perkins Loans). This figure rises to $24000 if PLUS loans are taken into account.

    Most student loan debt is repaid over 10 years (although it can be extended to 30 years if the debt is consolidated) and the interest rate is set annually on 1st July.

    There are four types of student loan debt available to students in the US.

    1) Stafford Loans

    Also known as federal loans, these are granted by the f

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