Retirement Accounts – What Is A 401k Anyway?
Retirement isn’t on the radar for most college graduates dealing with student loan debt, but it’s never too early to plan for the future. And like student loans, there’s a lot of unfamiliar and confusing terminology. Learning about financial assets like stocks and bonds can be bewildering, especially when taxes come into play. Financial products […]
Budgeting Under the Burden of Student Loan Debt
Every week, there seems to be a new story about someone climbing out of crushing student debt. But beyond the headlines, you’ll usually discover a common theme – these people already had a good job and were able to make extreme sacrifices to their budget like selling a car or living at home for a […]
What’s The Difference Between Refinancing and Consolidating Student Loans?
College students are expected to know a lot of terminology when deciding how much money to borrow. Unless your major is in finance or accounting, definitions to terms like consolidation, refinance, interest rate, and default might sound like a different language. Kids as young as 17 are expected to understand the magnitude of going into […]
Should I Invest For Retirement Before Paying Off Student Loans?
America has a savings problem. With more and more transactions going digital, it’s easy to lose track of spending. Healthcare, housing, and education are getting more and more expensive and opening a retirement account can be overwhelming (or at least tedious). And if you’re a college graduate with student debt, how do you even begin […]
What Happens If I Default On My Student Loans?
Default is the scariest word a borrower can hear, especially one dealing with heavy student loan debt. Student loans have some harsh penalties if you don’t pay and failing to stay on top of them can crush your credit score. But how does a loan reach default and what options do borrowers facing mounting penalties […]
Extra Relief for Public Servants with Federal Student Loans
As we try to emphasize on this blog, federal student loans have a number of benefits over private ones. You’ll have access to plenty of relief options, including income-based repayment and total forgiveness for public servants. Private loans have fewer options for borrowers who fall on hard times, if anything at all. The government is […]
If Student Loan Providers Are Unresponsive, Try To Increase Income (For Now)
Student loan borrowers have more relief options than ever from the federal government and private borrowers are beginning to see support as well. But patience is running out for many graduates, especially those with high balances and uncooperative lenders. Paying four-digit loan installments every month is unrealistic to new graduates who can sometimes sit in […]
What Are My Relief Options For Private Student Loans?
Federal loans often come up short when funding some expensive schools, especially for out-of-state students. Borrowers short on state funds turn to private institutions to pay the rest. The Navient Corporation is the largest financier of these loans with over 12 million customers. Private student loans can also be used to refinance or consolidate existing loans […]
Federal Student Debt Relief: What Are My Options? 🤷♀️🤷♂️
If you’re reading this, you’re likely one of the 44 million Americans who graduated college with college debt. You aren’t alone in looking for federal student debt relief, that’s the good news. The bad news is that colleges are showing no signs of reining in costs. Total unpaid student debt in America hit a record […]