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Medical bills high on list of debts for recent college grads

After a person graduates from college in Oregon, they may be forced to take over financial responsibility for some expense that were previously covered by their parents, or paid for by their student loans. At the likely age for adults to graduate, many will be required to find jobs that provide health insurance, or begin paying for their own medical expenses. As costs for health care rise, many recent college graduates may find it hard to keep up on their bills and still pay for their health care costs.

College graduates have been encouraged to learn how to stay up to date on the terms of their student loans, develop a budget, and pay off high interest debt quickly before they graduate from college and start looking for a job.

A new study suggests that it is easier than ever for recent college graduates to end up in troubling financial situations that can adversely affect their credit. With student loans, credit card debt, and medical bills topping the list of the most common kinds of increased debt for a college graduate, the fear is that many new graduates will be forced to pay high fees for late payments or defaulting on payments.

 

When a person ends up in a situation where medical bills are too high to pay and also keep up on regular living costs, bankruptcy may be the best option for a fresh start for the person. Any person who is struggling under the weight of high debts may benefit from contacting an attorney to discuss their options for bankruptcy.

Source: Fox Business, “3 money moves every college student should make before graduation,” Emily Driscoll, May 8, 2013

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