Learning how to pay for college may start before you pick the school you want to go to and start talking to the bursar’s office. The latest statistics show that 45 million people owe a combined $1.7 trillion in student loans. It puts the average student loan debt at over $30,000. Leslie Boden from Money Management Counselors in Sturgeon Bay says prospective college students should take their time before deciding to put them behind financially. 

As for those trying to pay their college loans now, Boden says the right strategy depends on each borrower. With the student loan payment freeze going through to the end of the year, she says now is an excellent time to have your payments go directly to the principal and not to accumulate interest if you can afford it.