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 According to American Student Assistance (2014) nearly twenty million Americans attend college each year, of that twelve million, roughly sixty percent, borrow annually to help cover costs. American Student Assistance (2014) also declares that thirty-seven million student loan borrowers with outstanding student loans today.

 According to the Consumer Financial Protection Bureau, outstanding student loan debt is the largest consumer debt class at nearly one trillion dollars, after home mortgages (Nasiripour, 2013). As of the first Quarter in 2012, college students under the age of thirty was the largest group of borrowers at fourteen million, followed by ten million for the thirty to thirty-nine year old group, the forty to forty-nine category was five million, the fifty to fifty-nine group was four million, and the sixty and over group was at two million (ASA, 2014).

 According to the American Student Assistance (2014), student loan debt statistics, as of 2012 borrowers in their thirties have a delinquency rate, which is more than ninety days past due, of six percent, while borrowers in their forties have a delinquency rate of twelve percent, borrowers in their fifties have nine percent delinquency rate, and those over sixty have a nine and a half percent delinquency rate.

 The need to repay loans  The cost of education  Borrowing money for college  The need to find a job after school  The academic challenge of course work (Trombitas, 2012).

 The degree of stress increased significantly for students over the age of thirty. Their overall top three stressors were: the need to repay loans; cost of education; and borrowing money for college(2012).

The Project on Student Debt, an initiative of the Institute for College Access and Success, reports that seven in ten college seniors (seventy-one percent) graduated with an average loan debt of twenty-nine thousand four hundred dollars per borrower (2012).

 Stay away from credit cards  Ask family and relatives for financial support  Check all existing scholarship options and available financial aid programs for students  Think about the future

 One-on-one financial counseling  For-credit personal finance course  Seminar on money management  Seminar on managing student loans  Online financial education