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Student Loan Counseling

#AskanExpert: Can a Student Loan from 1990 be Forgiven?

Q. I have an outstanding student loan from 1990. I have seen information to the effect that the loan can be forgiven after 25 years. Is this true? If so, could I hire you to facilitate it? I can’t get through their phone line. Dear reader,   It’s true that there are federal student loan repayment programs that will forgive any outstanding student loan amount after 20 or 25 years …Read More

#AskanExpert: Do I Qualify for Public Service Loan Forgiveness (PSLF)?

Q. I’m a physician working in critical access hospitals within the Indian Health Service as an independent contractor. Do I qualify for the PSLF? How do I apply for it? Dear Reader,   As an independent contractor you would not qualify for Public Service Loan Forgiveness because you do not satisfy the employment eligibility requirement. To be eligible for the PSLF, you have to be directly employed by a qualifying …Read More

Can You Pay Your Student Loan Bill with a Credit Card?

The cost of higher education has ballooned exponentially in recent years. The days of being able to put yourself through a big university on a part-time or full-time job are mostly gone. Today, financial aid and student loans are almost as much a part of college as attending class. As a result, many students graduate school with a significant amount of student loan debt; in fact, student loan debt is …Read More

#AskanExpert: Where Can Learn More About Borrower Defense?

Q. I graduated from Ashford university in 2010 with the hopes that I could get a better job opportunity. Unfortunately, not many employers recognize this university as legitimate with all of its legal woes. I feel like I was misled by this school and reached out to my state attorney asking for help with student loan forgiveness. Is there any information that’s available to help me?   Dear Reader,   …Read More

#AskanExpert: How can my physically disabled daughter best receive counseling for her student loan debt?

Q. My daughter owes about $15,000 in student loan debt. She is physically disabled. She works only part-time for a 501c3 organization. How can she best receive counseling for repayment and/or forgiveness on her student loan debt? Dear reader, The best way for your daughter to receive the student loan counseling she needs is to talk to a specialized NFCC- certified credit counselor or to a credit counselor in your …Read More

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

Managing Your Student Loan Debt When Looking to Buy a Home

According to Pew Research, nearly four in 10 adults under age 30 have student loan debt. If you’re among that number, becoming a first-time homebuyer can seem a bit daunting. However, with proper planning, you don’t need to worry that your student loan debt will keep you from qualifying for a home loan. Read on for six practical ways to make home buying feasible as you manage your student loan …Read More