Income-based repayment, or IBR, can be a great option for recent college graduates who need some breathing room while getting started in a career. However, there are some real risks to it, especially for those who owe significant loan balances or are in career paths where the salary trajectory is fairly level.

Next week is spring break for many students. Those looking for something to do might consider reviewing the Common App and Coalition App essay prompts, since next year’s are already available.

When comparing the two schools my son is considering, we noticed an interesting data point: one school estimated books and supplies to cost $800 annually; the other $1,146.

There’s been a great deal of press in recent years about the impact student loans have on the larger economy, especially home purchasing.

The Federal Reserve Board of Governor’s Report on the Economic Well-Being of US Households has a wealth of data on student loans, including a breakdown of borrowing by age range, forms of debt, and payment status by school type. Some interesting points:

In 2002, a paper in the Quarterly Journal of Economics by economists Stacy Dale and Alan Krueger showed that for most students, the incremental value of attending an elite college was virtually nil.

Most teenagers struggle to have the foresight into the burden that student loans will cause. Help your student estimate that burden and the pros and cons of those impacts.

Despite the fact that Pell Grants are one of the largest federal gift aid programs, with over $28 billion going to students with high financial need in the 2017-2018 school year, the program is limited. Learn more.

Taking a break from the FAFSA… The PSAT is coming this week. I highly recommend that all sophomores and juniors take it. Why? Because standardized tests are quite possibly the best source of merit aid around, so the more practice you get, the more prepared you are likely to be when the real tests come around.