Share your student loan debt horror story.   

$10,000? $25,000? $50,000? Polling shows that those debt amounts aren't uncommon for NEA members. Tell us what your student loan debt is and how it's affecting your life. Is it making you think about leaving teaching for a better-paying profession? Are you delaying marriage, having kids, or buying a home? 

 'My Debt, My Life.' Check out our recent NEA Today Article.
 Read what other NEA members have said.

Check out these excerpts ...

Deal with Your Debt, Invest in Your Future
Credit card debt, outstanding schools loans, a mortgage, car note, daycare expenses, and other bills causing you stress? You’re not alone. Many NEA members need help to gain control of their finances and find ways to reduce debt. That's why NEA Member Benefits and the National Foundation for Credit Counseling have teamed up to provide financial literacy and debt management education to NEA members and their families.

For Many, College Still Out of Reach
The cost of college is far beyond too many families -- and soaring ever higher, according to the Campaign for America's Future. But the College Cost Reduction and Access Act, signed into law late last year, should help some by expanding federal assistance.

Here's a look at trends in average yearly tuition at public and private colleges and universities.

Paying for College ... the Smart Way
With the rising cost of college enrollment, it's no surprise that many parents borrow to pay for higher education and that many graduates owe tens of thousands of dollars on student loans and related debt. From researching loan options to shopping  for a good price on a college, these strategies may help.

Section 529 Savings Plans
A new ways to save for education expenses is the state-run Section 529 college savings plan. It is an investment account. Unlike a section 529 prepaid tuition plan, a Section 529 savings plan does not lock in future tuition costs at today's prices. It allows investments to grow at rates that may exceed increasing college costs. We can help you understand the tax breaks, investment options, and effects on financial aid.

Kids in College? Make Sure They Have Enough Insurance Coverage
Dorm life can be fun, but it can also expose students and their possessions to risk of theft, damage by fire or by vandalism. Parents' homeowners policies may provide enough coverage to replace personal possessions.

NEA Offers PRAXIS Study Guide for Future Educators
Most states require that new educators pass the standardized Principals of Learning and Teaching test before they can become licensed. Check out our tutorial for ways to relieve test anxiety, sample questions, and more.

Beginning Teacher Salaries
From Alabama to Wyoming, we've compiled the beginning and average salaries by state as well as overviews of the job markets and certification requirements.

NEA in Action

VIDEO | Students Rally for College Affordability

Marchers and participants from Illinois State University and South Carolina State University in this video demonstrate their concerns about the costs of higher education and the resulting debt. Activities like this November 2007 event have already forced Congress to pass the College Cost Reduction and Access Act which: Increases the maximum Pell Grant award, reduces interest rates on subsidized student loans, and creates new TEACH grants.

VIDEO | College Affordability Day of Action (Broadband, Windows Media Player) 
NEA Student Program Chair Anthony Daniels at a January 2007 press conference called for Congress to "reverse the raid on student aid." Daniels at this Washington, D.C. event said high college costs -- soaring 41 percent above the rate of inflation in the past five years -- have become a barrier to students seeking a teaching career as young people are forced to choose higher-paying careers in order to make loan payments. 

NEA student members' messages were heard loud and clear, as the House passed a bill to reduce interest rates on subsidized student loans. Total running time: 57 seconds

Our Position on Loan Interest Rates:
Reduce Student Loan Burdens by Cutting Interest Rates
NEA supported the College Student Relief Act of 2007 (H.R. 5) which would cut the current interest rates on student loans in half. We also wrote letters to the following:

» U.S. House of Representatives, July 2007
» Chairman George Miller, June 2007
» U.S. House of Representatives, January 2007

Our Position on Student Aid:
Help More Low-Income Student Attend College
NEA supports increasing the Pell Grant maximum award and shifting the balance of federal aid from loans to grants to help more low-income students attend and finish college.

College Aid Cuts: Make Your Voice Heard
Without federal student aid, many middle- and low-income families will not be able to help their children with higher education, making it harder to get a good-paying job said NEA President Reg Weaver in a recent editorial.

'New Teachers Can't Afford To Repay Student Loans'   
NEA Student Program Chair Anthony Daniels explained to participants attending the June 2007 'Take Back America' conference why a third of all new teachers leave the profession within the first five years. The bottom line -- hundreds of thousands of college students go into debt in order to enter the teaching profession, however, when many enter the classroom, they cannot afford to make ends meet, especially when it comes to repaying their student loans. 

Educators Help Students Get into College
Low-income and minority students often lack basic supports when getting ready for college. Check out the innovative ways our members are helping young people navigate the system -- and how you can too.

Scholarships for Hispanics
NEA recognizes that this population is graduating from four-year colleges at half the rate of the population as a whole. That's why we've partnered with the National Association of Hispanic Publishers to provide this free directory. 

NEA Student Program
By 2007, nearly 2 million teachers across the country will retire. We must take aggressive steps to replace these educators and ensure a quality teacher in every classroom. NEA supports teachers who are well qualified and prepared for their careers

Resources from Other Organizations

Income-Based Repayment
A new program starting July 1, 2009 will take a person's income-to-debt ratio into account. That means a borrower may never have to pay more than 15 percent of his or her discretionary annual income towards student loan debt. This is part of passage of the College Cost Reduction and Access Act.

Public Service Loan Forgiveness 
Borrowers who work in public service positions -- including teachers -- are eligible to have their federal loans forgiven after ten years of qualifying payments. Even if your loans are bank-based (like those from Sallie Mae) you can look into moving them into a federal direct consolidation loan.

Taxpayer-Teacher Protection Act
Highly-qualified math, science, and special education teachers are eligible for up to $17,500 in loan forgiveness after teaching five years in a low-income school. It is available to new borrowers (teachers with no outstanding loan balances prior to October 1, 1998, who borrow eligible loans prior to October 1, 2005). Call the Federal Student Aid Customer Service hotline at 1-800-433-7327 for information on the program and to find out if you qualify.

Compare College Loan Rates
This chart shows how individual states' student loan rates stack up with one another.

The Revitalizing Education Project
The Campaign for America's Future believes college must be affordable for all. "As the economy has become more competitive, higher education has become more and more essential. 'This knowledge-based economy is fast making a baccalaureate degree the equivalent of a high school diploma in the old economy.' ... In most places, tuition increases more reapidly than family incomes, and in some places, tuition has increased by as much as 50%."

Project on Student Debt
You'll find a list of financial aid terms and their definitions, ways to compare student loan discounts, and questions to ask before you sign. Additionally, their state-by-state map shows the average debt of graduating seniors at four-year colleges and the percentage of graduates with debt in 2006.

College Board Annual Report on Trends in College Tuition and Financial Aid, 2007
Federal student aid to undergraduates showed slow growth, while published tuition prices continued to increase.

Questbridge College Prep Scholarship
This award is designed to level the playing field of college admissions by giving high-achieving, low-income students the tools to apply for college. These include access to selective college summer programs, college admissions counseling, and college preparatory services.