Student Loan DebtIt is a norm and expectation in today's society for students to pursue higher education after graduating from high school. College tuition is on the rise and many students are struggling to pay their tuition. To pay tuition, most students must take out loans, and at the end of four years those students find themselves in debt. Student loan debt is at an all-time high with so many people graduating from college and having trouble finding jobs in their career fields, so they are having a hard time paying off their student loans and also don't have a full understanding of the term of loans and their options if they are unable to repay them. There are different types of financial aid available to students such as grants, scholarships, and loans. There are many of these types of financial assistants that students can access. There are many websites available online that offer all different types of scholarships. Some scholarships have certain requirements such as race, GPA, demographics, parental income, etc. Others require students to write an essay, and others only require students to apply. Scholarships are given to students and are money that do not need to be repaid. Most grants are funded at the federal and state levels. Loans are money that is borrowed and must be repaid and in most cases with interest. There are two main different types of student loans; they are federal and private loans. Federal loans are loans offered by the government. There are three different types of federal student loans and they are the Federal Stafford Loan, the Federal Plus Loan, and the Federal Perkin Loan. There are two main Stafford loans: subsidized and unsubsidized. To be eligible for these loans, students… half of the document… They also have the option of Deferment or Forbearance, and also the ability to see if they are eligible for Forgiveness, Cancellation or Discharge. They are options available to borrowers instead of entering Default.Works CitedCarmona, Norma and Thompson, Kim. “How to Manage Student Loan Debt.” The Chronicle of Higher Education. February 27, 2004. The Chronicle of Higher Education. Network. February 26, 2014.Basken, Paul “Student Loan Market Shows Small Signs of Recovery” The Chronicle of Higher Education. May 16, 2008. Web. February 26, 2014. Turlington, Shannon R. “How to Find a Scholarship Online.” New York: McGraw-Hill, 2001. eBook Collection (EBSCOhost). Network. April 23, 2014. Clemmitt, Marcia. “Student Debt.” CQ Researcher 21 October 2011: 877-900. Network. April 23, 2014.Greenblatt, Alan. "Youth unemployment". CQ Researcher March 14, 2014: 241-64. Network. April 23. 2014.