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Question by musiquejunkiechick: Should I pay off student loan/credit card debt or continue school (masters)?
I want to get my master’s, but I have a lot of credit card debt and student loan debt with a grand total of $ 25,000. What should I do?!?!

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What makes this picture more complicated is, that normally one student loan is not enough to finance the education, but a student will take several loans from several lenders, both private and federal ones.

This leads to a situation, where a student will have several loans from several lenders, each having their own back payment schedules, interest rates and other terms. When the back payment time is closer, a student may see the situation complicated and starts to think about the student loans consolidation.

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A new report by the Pew Research Center shows that reliance upon student loans among college students increased dramatically between 1996 and 2008.

The survey, analyzing data collected by the U.S. Department of Education for the quadrennial National Postsecondary Student Aid Study, examined borrowing trends among graduates in the class of 2008 and made comparisons using inflation-adjusted dollars.

Overall, the Pew analysis revealed that bachelor’s degree recipients in 2008 borrowed, on average, 50 percent more in student loans than bachelor’s recipients who graduated in 1996, while students who were awarded an associate’s degree in 2008 borrowed more than twice what that their 1996 counterparts did.

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