Student Loans
-
The Financial Mistake You Can’t Afford to Make After College
There’s one big financial mistake you don’t want to make after college: Don’t focus so much on your student loan debt that you forget about the rest of your financial health.It has happened to many recent college graduates. They land a great job. They have a promising career ahead of them. All roads lead to a fantastic future. And then…
Read More » -
Become a Money Genius: How to Manage Money as a Student
Many people treat college like a financial safety blanket, but it’s crucial to learn how to manage money as a student. College is the real world. It comes with real experiences and real expenses. However, many adults refer to it as ‘Life in the ivory tower.’ That’s a very negative statement. What they mean is that life sort of presses…
Read More » -
Public Service Loan Forgiveness Program: Quick Overview
The Public Service Loan Forgiveness Program is offered to public service employees. If you work full-time for a government or not-for-profit organization, you may qualify for forgiveness of the entire remaining balance of your Direct Loans after you’ve made 120 qualifying payments—that is, 10 years of payments. Loan forgiveness is the cancellation of a loan debt under various loan forgiveness…
Read More » -
Student Loan Payoff Letter: How to Request It
You may need a student loan payoff letter to refinance your debt or purchase a home. What is a Student Loan Payoff Letter A student loan payoff letter is created by your lender or loan servicer, whether it’s federal or private loans. It shows your account information, final payment amount, and time frame for the last payment to satisfy the…
Read More » -
Federal Versus Private Student Loans: Which is Best
Federal versus private student loans is a conversation you’re probably having and why you’re about to read this article. I’m going to break down the key areas of federal v private loans but if you want a deeper dive read the Guide to Student Loans. Whether you choose federal student loans or private student loans, the money borrowed must be…
Read More » -
Teacher Loan Forgiveness Program: Quick Overview
Under the Teacher Loan Forgiveness Program, if you teach full-time for five complete and consecutive academic years in a low-income school or educational service agency, and meet other qualifications, you may be eligible for forgiveness of up to $17,500 on your Direct Subsidized and Unsubsidized Loans and your Subsidized and Unsubsidized Federal Stafford Loans. If you have a Direct Consolidation Loan…
Read More » -
Questions to Ask Before Refinancing Student Loans
Refinancing student loans can be the right strategy to pay off student debt sooner but you’ll want to ask these questions first. Before refinancing you want to have a clear understanding of the reason for doing so. Millions of people have student debt and the national total is more than 1.6 trillion dollars. Student loan refinancing involves taking on a…
Read More » -
How to Find Your Student Loan Servicer
After graduating or resuming your loan payments after forbearance, you may discover your loan servicer has changed. This can happen and you may be left wondering how to find your student loan servicer. The responsibility is on you to find who services your student loans. Unfortunately, if you send payments to the wrong servicer, it may cause you to miss…
Read More » -
How to Apply for Deferment or Forbearance of Student Loan Payments
There are times you may need to apply for deferment or forbearance of your student loans. A deferment or forbearance on student loan repayments allows you to postpone making your federal student loan payments or temporarily reduce the amount you pay. Difference Between Deferment and Forbearance When student loan payments are unaffordable, deferment and forbearance can both postpone them. The…
Read More » -
Could You Save Thousands with a Student Loan Refinance?
The following is a post from Melanie Lockert of DearDebt.com and the author of the bestselling book Dear Debt. Student loan debt is nearly at epidemic levels right now. It seems like everyone has a story about how student loans are affecting their life. According to the Project on Student Debt, as of 2018, 65% of students graduated with student…
Read More »