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Released: November 01, 2011

Taking advantage of student loan assistance

Source: Sandra Block, USA Today

The Occupy Wall Street protesters who are holding vigil in cities across the country have a lot of grievances, but there appears to be general consensus on a couple of issues. They're not particularly fond of big banks. And they desperately want relief from student loans. About two-thirds of graduates with a bachelor's degree have student loans, according to the College Board. While the average debt is about $24,000, 10% of undergraduates have loans of $40,000 or more, according to the Project on Student Debt. Student loans are usually manageable for graduates who land a good job, but these days, a good job is hard to find. Borrowers who fall behind on their payments because they're unemployed or underemployed often end up even deeper in debt because interest and penalties inflate the amount they owe. Last week, the Obama administration unveiled a plan to help borrowers dig their way out of debt. Here's a look at the changes:

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