Guide to Education Grants

It can be overwhelming. New college grads are tasked with finding a job, paying back student loans, finding transportation and a place to live. It’s no wonder that almost two out of every five recent college grads are without health insurance during some part of the first year after graduation. In 2005 13.3 million lacked coverage, up from 12.9 million in 2004.
In the world of American health insurance, one’s 19th birthday is often D-Day, the day many public and private insurers drop their coverage under family policies.
Young adults ages 19-29 often believe they are invincible; after all, they are young and healthy so they don’t actually need health insurance. But going without health insurance is a big gamble that can jeopardize not just their health, but their financial future as well. A medical emergency, accident or serious illness could result in enormous bills and debt.
No one understands this better than Chris Studer and his colleagues at ScholarPoint. “We talk to people all the time who, after graduation, are struggling to repay their student loans and pay for other necessities such as health insurance. Worrying about making ends meet, when you have worked hard, played by the rules and graduated from college is very difficult,” said Studer, President and CEO of ScholarPoint. “Consolidating student loans can make the monthly payment smaller, enabling them to afford health insurance and make ends meet.”
Student loan consolidation has other benefits as well: lower interest rate; reduction of debt to income ratio; improved FICO score and lower monthly payments.
 

This entry was posted on Tuesday, August 14th, 2007 at 11:59 am and is filed under Education Funding News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.