How To Avoid Defaulting On Your Federal Student Loans

College was always the goal for Eryn Bostwick.
As a first-generation college student, Bostwick, 37, said her parents wanted to ensure she had the opportunities they didn’t have, and they believed that earning a college degree would provide her with financial stability.
Bostwick’s parents weren’t wrong — data show that a four-year college degree leads to higher earnings than a high school diploma. However, to accomplish that goal, Bostwick had to take out student loans and Pell grants. She said she wasn’t fully aware of the long-term ramifications of the debt.
She now has just over $55,000 in student loan debt, which she accrued while pursuing a bachelor’s, master’s, and Ph.D. at public universities with the goal of becoming a college professor. As a result, she’s put off major life decisions, like adding to her family.