The Smart Way to Pay Off Student Loans (U.S. News & World Report)

US News & World Report’s money blog noted the Federal Reserve Bank of New York’s recent ominous findings: Student loan borrowers, facing mounting debts and diminished prospects for employment, are retreating from other markets they customarily supported, such as housing and auto loans:

Whether you consider yourself to be financially responsible, or you always seem to come up short on cash, there are a few key indicators that may indicate you are living beyond your mean. And being aware of them can save you loads of money woes in times of a cash emergency.  

When my parents first announced at Thanksgiving that they were taking out a life insurance policy on me, I was taken aback and slightly offended. In fact, I thought it was a cruel joke. Why would they need to do such a thing? I’m only 27. The mere thought of it was grim.

It's interesting to watch some of the terms bandied about in headline news. For example, the LA Times headline reads S&P says student loan debt could be next financial bubble. Next? Could Be?

By Bret Jensen:The student loan market has been in the news recently for several reasons. Congress has been fighting with each other to figure out a way from keeping interest rates on student loans from doubling.

If you’re a recent college graduate, you’re probably concerned about all things financial – from finding a full-time job to renting a home to saving for retirement to dealing with student loan debt. And in the midst of all that, you’ll have to decide how to use credit cards to better your own financial future.

U.S. News & World Report - If you need to borrow to finance your education, federal student loans should be first on your menu. Congress and the U.S. Department of Education regulate federal student loans, setting maximum interest rates, borrowing limits, and other important loan terms. These loans come in loads of different flavors. Here's a taste of what you might borrow: