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Student Loans

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

Should I Buy a Home Before Paying Off My Student Loans? Five Factors to Consider

Americans owe more than $1.48 trillion in student loan debt, according to Student Loan Hero. That sum is the result of 44 million borrowers or roughly two-thirds of students graduating from four-year colleges. Many people in their 20s and 30s with student loan debt wonder whether they can or should buy a home while they are still in debt. Some find they are perfectly capable, while others realize they are …Read More

Preparing for Large Purchases Before College Graduation

Saving Before Graduation While it’s difficult to focus on the future with a mountain of homework in front of you, there are easy ways to start saving before you graduate. Since a vast majority of college students share housing, many are able to drastically cut electric, utility, cable, and internet bills. Some Ways Student Can Cut Costs: Share streaming services, phone plans, and grocery bills with roommates or family. Negotiate …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

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

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