Student loan debt could be a difficult problem for most students after graduation, but all it takes is a just little preparation and planning.

Adrian Mora, who graduated from the University of Guam in 2014, has taken out loans in Spring of 2013 and in Fall of 2014. In that time, he had accumulated about $30,000 in student loan debt but remains unhindered by the amount.

“I’ve had no difficulty paying my student loan back,” Mora said. “My loan provider offers different payment options to choose from, allowing me to pay what I can afford.”
Mora encourages students to apply for student loans and not to be afraid to take out one.

“Working two or more jobs and going to school at the same time isn’t worth the stress,” Mora said. “I’ve seen many of my peers drop out of college because they wanted to work more to save money for school, but never seemed to go back when they had enough.”

Jeff Bautista, a senior at UOG majoring in communication, is spending his student loan wisely and only borrows enough to get through the semester.
“Right now I’m paying school out of my pocket,” Bautista said.

Bautista says that he uses the money left over from his student loan after paying his tuition, for books, food, and other necessities.

“Maybe $800 to $1,200, they give a check back to me and I would just live off that for awhile each semester,” Bautista said.
Bautista encourages students to apply for FASFA whenever they can and to take out a student loan whenever you do need it.

Bautista says that he has accumulated about $30,000 in student loan debt and is expected to pay about $250 a month, but remains hopeful and is looking forward in getting his degree. He is expecting to graduate Fall of 2016.

According to UOG’s Fact Book, an alumni survey was done in Spring 2014 on the employment statuses of graduates, which could be a factor in the rising student loan debt.
In 2012, about 19% were currently employed and about 15% were related to their major studies. In addition, in 2013, about 13% were currently employed and about 9% were related to their field of study.
Furthermore, according to statistics from the UOG Financial Aid Office, between the years 2010-2012, of the roughly 4,300 students enrolled in UOG, and about 400 students took out a student loan. Within those three years, about an average of 6.5% of students defaulted on their student loans.

In addition, about an average of 380 students within those three years are currently paying off their student loans.

“The main reasons for defaulting, is failure by the student to communicate to their lender,” said Mark Duarte, Director at the Financial Aid Office.

According to Duarte, the lender is willing to work with students if they are unable to make payments. In addition, they can give them options to prevent them from defaulting.

“I always advise students to talk to their lender whenever they have any issues concerning payment of the loan,” said Duarte. “Most of the time, they will be able to help.”

Duarte said the worst thing a student can do is to not communicate with their lender.

According to Duarte, UOG’s default rate in 2012 is actually one of the nation’s lowest, which is at 4.5%, compared to the national average default rate for students, which is around 11.8%.
In addition, about an average of 380 students within those three years are currently paying off their student loans.