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Student Loans

The Process of Getting A Student Loan

Each year across America, teenagers and people in their early twenties head to college. In this day and age, with the rising cost of college education – many students have basically no choice but to take out student loans. According to U.S. News, the average cost of tuition for an academic at a public in-state university is more than $10,000, over twice as much as it was back in 1998. …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

How and When to Use Federal and Private Student Loans

College comes with a lot of new expenses that many students encounter for the first time. While your financial aid may cover tuition and books, how will you fill in the other expenses of daily life? Should you use part of your student loans for living expenses?   Other options include private loans versus parent plus loans. You should leverage scholarships, part time work, and help from your family first. …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

Ask an Expert: Does Income-Driven Repayment for Student Loans Affect Homeownership?

Q: I am in a position where I would like to buy my first home but I have some student loans that I’m worried about.  Right now, I am on the income-driven repayment (IDR) plan, will this be an issue I need to consider before taking the leap to homeownership? A: Dear reader, It’s definitely wise to consider your student loans if you plan to become a homeowner in the future. Getting approved for …Read More

How Does Student Loan Debt Affect the Economy?

Remember the 2008 financial crisis?   You know, the one that economists say is the worst since the great depression.   The crisis began due to issues in the subprime mortgage sector. These high-risk loans led to a large number of new homebuyers, which drove up housing prices, which led to people borrowing against their homes and eventually, the housing “bubble” would burst.   As you know, this led to …Read More

Should You Consolidate Your Student Loans After Marriage?

Did you recently tie the knot?  Getting married is one of the largest steps people can take in life, and it comes with its share of difficulties and confusion, especially when it comes to debt and finances. With student loan debt for graduates increasing every year, many will begin to get married and wonder if they should consolidate their own student loans with their spouse’s. As marriage is the combination …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