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The Top Five Mistakes of Federal Student Loan Borrowers (Journal Article)

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Whether a student loan debt “crisis” is real or imagined, the fact is that there is roughly $1.48 trillion of outstanding student loan debt spread across roughly 44.8 million borrowers, and loans, generally, have to be repaid. A lack of financial literacy has contributed to borrowers’ woes in repayment. Federal student loan borrowers also must deal with a sophisticated tapestry of rules and regulations of which the majority are likely unaware. This article addresses five of the most common mistakes made by federal student loan borrowers.

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