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Student Debt

3 Steps to Take After Graduating From College

An education is a great thing—but just because a student has graduated from college doesn’t mean they’ll make all the right decisions when it comes to personal finance. In fact, according to one survey, most recent college grads reported making a credit-damaging mistake within two years of getting their degree.   The post-graduation world of student loan debt and added responsibility can be a lot for anyone to take in. …Read More

Tax Implications of Student Loan Debt and Forgiveness

There are a few different ways that student loan debt affects your taxes, from possible deductions to what you may owe in the future.   You can deduct student loan interest from your income. If you paid interest on student loans last year, you can lower your taxable income by up to $2,500. Student loan borrowers can deduct the interest paid last year through the student loan interest deduction. The student …Read More

Improving Your Chances for Successful Student Loan Refinancing

Student loan debt is a common component of earning a college degree for many graduates. In fact, the latest statistics highlight the growing number of college graduates with student loan debt, many of which leave school with nearly $30,000. Regardless of the amount, student loan debt can be a financial burden that lasts for several decades.   There are many ways to handle this debt, and nearly all come with …Read More

5 Strategies for Avoiding Student Loan Delinquency

No one plans to let their student loans fall into delinquency but with 44.2 million borrowers and an 11.2% delinquency rate, we know that millions of us do. There are some simple strategies you can take to put yourself in the best position to keep your student loans current and reach your ultimate goal of paying those bad boys off.   1. If you are still in school or recently …Read More

How Student Loans and Paying Them Off Affect Your Credit Score

Student loan debt is becoming almost commonplace in America. According to the Student Loan Report, approximately 70 percent of college students in 2018 have student loans, with an average of $27,975 in debt per borrower. I’m not going to go further into the statistics; the more important topic to discuss is the impact that these loans have on each and every borrower, including the potentially surprising outcome of paying off …Read More

Ask an Expert: How can I qualify for student loan forgiveness?

Q. How can I qualify for student loan forgiveness? Dear Reader, Dealing with your student debt can seem overwhelming and the possibility of having this debt forgiven sounds too good to be true. However, it doesn’t have to be. Qualifying for loan forgiveness takes time, and it requires you to be very proactive during the application process.   So how do you qualify for a loan forgiveness program? A good …Read More

Start Handling Your Student Loan Repayment in 4 Steps

Student loan repayment can be overwhelming. It may be tempting to “think about it later” or stop paying on your loans when the budget gets tight. As much as you might be tempted to pretend that the problem doesn’t exist, ignoring your student loan payments or letting them go into default status can have serious consequences.  Potential consequences of defaulting on your student loans may include: Wage, tax and/or social …Read More

Seeking Student Loan Forgiveness Opportunites?

For most borrowers, the only way out of student loan debt is repayment. But, this isn’t always the case. Depending on your profession, where you live, who you work for, your repayment program choice or the school you attended when you incurred this debt, you just may qualify to have some or all your student loans forgiven. Fraud leads to forgiveness. In November 2015, the U.S. Department of Education expanded …Read More

Tips for Paying Off Student Loans

  The idea of student loans can be daunting, especially with the costs of education at historic heights. If you are already in the process of paying your loans, your monthly payment can be a stressful task that doesn’t feel like it’s making a dent in your overall balance, and, even if you have not yet begun to pay, the idea of paying off a student loan can be overwhelming. …Read More

Graduating This Year? Now’s the Time to Take Control of Your Financial Health

By Bruce McClary The average 2016 graduate has more than $37,000 in student debt- up 6% from last year and levels of delinquencies and defaults are alarming. For many borrowers, managing student loan repayment is one more financial burden they have to consider on top of housing costs, credit card payments, car loans and more. Many don’t know where to turn for help or are not paying attention to the …Read More