HARRISBURG, Pa.--(COLLEGIATE PRESSWIRE)--Oct. 31, 2005--YouCanDealWithIt.com, a comprehensive money management website, offers invaluable advice on budgeting, credit cards and student loans for college students and recent graduates, an increasingly indebted segment of American consumers.
Today, more than 83 percent of college students have at least one credit card and the average balance is $2,347, according to HSH Associates, an organization that tracks the country`s consumer loan information. The typical college graduate owes $3,262 on their credit cards and almost $20,000 in student loan debt upon graduation.
As students and grads struggle to take control of their debt and manage their finances, YouCanDealWithIt.com can help with information on establishing good credit and handling existing debt�both important issues for future success.
The website offers easy-to-follow tips on how to save money every day with tools such as an online budget calculator. Users can create a monthly budget, learn how to prioritize spending based on needs vs. wants, and track and make adjustments as their finances change.
''The YCDWI budget calculator is really a great resource for planning my monthly expenses,'' says Kimberly Rothwell, a spring `05 Georgetown University graduate. ''I really want to move out of my parents` house, and now I know how much rent I can afford.''
The website is a public service initiative of American Education Services (AES). Deena Engle, Assistant Vice President of AES� Default Prevention Services, suggests students use YouCandDealWithIt.com to become smart money managers while still in school. ''After graduation, financial responsibilities grow substantially. Grads are faced with the challenges of managing student loan payments and other debt with brand new expenses such as rent, car loans and other costs.''
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About AES
American Education Services (AES) is a national financial aid services organization with $67.2 billion in assets under management, serving millions of students and thousands of schools through our guaranty, servicing, grant and financial aid processing systems. The funds generated from our extensive operations are used to improve education opportunities and lower the cost of assistance for students and their families while streamlining the entire process for the higher education community.
For more information, please visit our Website at .
About YouCanDealWithIt.com
YouCanDealWithIt.com was launched six years ago in an effort to lower the number of students who default on their loans. The nationally recognized campaign has led to an all-time low in AES` draft cohort default rate: 3.5 percent in fiscal year 2003. This is a 28.5 percent decrease from the prior year, when the cohort default rate was 4.9 percent. The cohort default rate measures the percentage of borrowers who have defaulted on their student loans within 12 to 24 months of entering repayment. Repayment generally begins six months after the borrower leaves school.
Contact:
Heather Dougherty
215-790-7826
215-850-4649 (cell)
[email protected]
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