Student loan program aims to help Hoosier students tackle college debt dilemmas

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INDIANAPOLIS, Ind. - If you're getting ready to enter college or you're graduating over the next couple of weeks it's likely student loans are on your mind.

"It is a complicated process, it's an intimidating process but it's not an unmanageable process," INvestEd, President & CEO, Joseph Wood said.

INvestEd is an Indiana non-profit that was created by the state legislature. They've been helping Hoosier students navigate college costs for more than 30 years. The first piece of advice is for high school students and their parents. Fill out your FAFSA early as possible.

"Make sure that you utilize all the free money first. There are scholarships, grants. Indiana is a very generous state when it come to quote free money," Wood said.

And for families Wood says start saving for college soon as you can by setting up college fund savings accounts.

"The worst time to think about how you're going to pay for college is May 4 when you're getting ready to graduate from high school and you're three months from matriculating. We've taken our financial literacy now to middle school."

Once students hit college many of them fail to keep track of how much they're borrowing and even over borrow. In Indiana, the average student has more than $29,000 in college loans. So a new INvestEd program helps Hoosier students get lower loan payments if they enroll in electronic payments.

"What we've proposed with this refinancing loan is to give them another option to look at. Specifically made for Hoosiers, specifically to benefit Hoosiers so if they're in that situation or if they want to look at an option post graduate we're here to help them," Wood said.

To learn more about INvestEd and to get free advice click here.