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Student loans can provide much-needed help in paying the high cost of a college education. On average, consumers in the U.S. have an average of $39,487 in student loan debt, according to Experian data. Starting your career and the rest of your life with that much debt can be a heavy burden to bear. So, […]
4 Things to Consider Before Applying for a Student Loan Read More »
For the most up-to-date information on federal student loan forgiveness, go to the U.S. Department of Education’s Federal Student Aid website. Applications for federal student loan forgiveness under President Biden’s new debt relief plan became available in October 2022. The plan is currently on hold due to a court order, but borrowers are still encouraged
Don’t Forget These Important Student Loan Forgiveness Dates Read More »
If you’re wondering how to get out of debt, you’re not alone. Around 64 million Americans have some form of debt. And it’s not just credit card debt keeping people up at night. According to the credit-reporting agency Experian, Americans’ consumer debt adds up to more than $15 trillion. While each individual’s circumstances vary, trends
How to Get Out of Debt in 6 steps Read More »
You can refinance student loans to get a lower interest rate, negotiate better loan terms, and to work with only one lender.You can refinance student loans to get a lower interest rate, negotiate better loan terms, and to work with only one lender. The post Best companies for student loan refinancing in 2022 appeared first
Best companies for student loan refinancing in 2022 Read More »
The Department of Education is reconsidering what counts toward income-driven repayment forgiveness. Starting in November 2022, borrowers who have been paying their federal student loans for 20 years or longer can expect to see the remainder of their debt discharged, while millions more will move significantly closer to forgiveness. Income-driven plans offer reduced payments over 20…
Q&A: The New Student Loan Income-Driven Repayment Waiver Read More »
The 8th U.S. Circuit Court of Appeals has granted an emergency stay pending the appeal of a lawsuit seeking to delay the scheduled rollout of the Biden administration’s promised student debt relief. In other words, borrowers hoping to see $10,000 or $20,000 wiped from their debts will have to wait while this lawsuit proceeds; hearings…
Lawsuit Stalls Student Debt Relief: What Now? Read More »
Full student loan forgiveness could be closer than you think under temporary rules for Public Service Loan Forgiveness, or PSLF — but time is running out to apply. “They should rush to get this done because the program is far more inclusive than it’s ever been in the past,” says Kristen Ahlenius, an accredited financial…
Time’s Almost Up to Apply for Bigger Student Loan Forgiveness Read More »
You may be celebrating if you qualify to receive the recently announced federal student loan forgiveness. In some states, however, you could be taxed on the forgiven portion. What felt like a clean slate for many student debtors may now have an unexpected smudge, but only a limited number of recipients could face taxation. How
Will My Student Loan Debt Forgiveness Be Taxed? Read More »
Student loans make college–and, increasingly, a middle class life—possible. But you should understand how student loans work before taking them out.Student loans can help make your academic dreams a reality. But you should fully understand how student loans work before taking them out. The post How Do Student Loans Work? appeared first on Money Under
How Do Student Loans Work? Read More »
Hundreds of thousands of borrowers made payments on their federal student loans since forbearance began in March 2020, taking advantage of the opportunity to pay down their balances. Now that the White House has announced plans to cancel up to $20,000 in student loan debt, some of those borrowers may be wondering how to get…
Should You Ask for a Refund on Student Loan Payments? Read More »
A 529 college savings plan is primarily designed to help you pay for college and other eligible educational expenses. But since 2019, it’s also been possible to use 529 plan funds to pay off student loans. Here’s what you need to know about limitations of using a 529 plan to pay off student loans and
Can You Use 529 Funds to Pay Off Student Loans? Read More »
You may qualify for in-state tuition if you go to a border school, enroll in a tuition exchange program, or qualify for an exceptionYou may qualify for in-state tuition if you go to a border school, enroll in a tuition exchange program, or qualify for an exception The post 7 Stategies To Help You Afford
7 Stategies To Help You Afford College When It’s Out-of-State Read More »
If you have loans in default, your loan servicer may take aggressive action to get its money back, even by garnishing your wages or withholding your tax return. One way to stave off wage garnishment is by paying the balance in full, which may not be an option if you cannot make your payments. Alternatively,
How to Stop Student Loan Garnishment Read More »
Search the internet for “student debt stories,” and you’ll easily find dozens of anxiety-ridden tales of student loan borrowers struggling to keep up with enormous debt balances that have swelled out of control due to compounding interest. Very few of those stories, however, end in total debt forgiveness. But that’s exactly what happened with Kristin…
How I Got My Student Loans Forgiven: Legal Director in D.C. Read More »
The best student loans can help you borrow money for college without going broke. They do this by offering competitive interest rates, fair repayment terms, and flexible monthly payments that can fit with your lifestyle and your budget. While most borrowers should focus on federal student loans first, private student lenders can help you fill
The 7 Best Student Loans for 2022 Read More »
Did you end up with a little more financial aid than you expected? Read our article to find out how you should and shouldn’t use it.Did you end up with a little more financial aid than you expected? Read our article to find out how you should and shouldn’t use it. The post What You
What You Should (and Should Not) Do with Excess Financial Aid Read More »
The “buy now, pay later” transaction is simple: Shoppers are offered an installment loan at the point of purchase, spreading the cost of the product across several payments. They’re often available without a credit check. Buy now, pay later financing has become a go-to payment method at most major retailers for everything from clothing and…
Is ‘Learn Now, Pay Later’ Just Another Student Debt Trap? Read More »
If money is tight, it may be nerve-wracking to allow your student loan payment to be automatically pulled from your bank account each month. But if you can get your budget in shape with enough buffer, enrolling in autopay for student loans can land you an interest rate deduction up to 0.25 percentage points. What
How Can Student Loan Autopay Save You Money? Read More »
John Schneider and David Auten were living lavishly, with designer jeans, expensive parties, and frequent dinners out where they would pick up the tab for a round of drinks or pricey bottle service. The couple, who are based in Las Vegas, soon realized they were facing more than $50,000 in debt, living in a basement
Why Saving and Debt are Big Problems for LGBTQ+ People Read More »
For years, federal loan forgiveness programs have been criticized for their overly-exclusive and often confusing eligibility requirements. This has led to thousands of borrowers being unexpectedly denied the loan forgiveness they had been working towards for years. But for some borrowers, that relief is finally coming. On April 19th, the U.S. Department of Education announced
Who Is Eligible for Biden’s Plan to Expand Student-Loan Debt Forgiveness Access? Read More »
