pay student loans or save for retirement

Saving for Retirement vs. Paying off Student Loans

The Sherpa Best Of, Blog, Student Loans 2 Comments

The retirement vs. student loans debate doesn’t have one simple answer.  The reality is that a number of different factors can affect your personal situation.  By carefully reviewing the following six variables, you can be on your way to the smartest allocation of your money. First variable: Your Student Loan …

The SherpaSaving for Retirement vs. Paying off Student Loans
avoiding federal student loan default

Avoiding Federal Default

The Sherpa Blog, Student Loans Leave a Comment

Looking through some Department of Education statistics, I came across one very disturbing number… Over one in seven recent graduates are in default on their federal student loans.  Specifically, when you look at how the class of 2010 performed on repaying their student loans, 14.7% are in default. The sad …

The SherpaAvoiding Federal Default
federal student loan consolidation

Should I Consolidate my $30,000 of Federal Student Loans?

The Sherpa Blog, Student Loans 1 Comment

I’m frequently asked variations of this question.  Unfortunately, a lot goes into deciding this seemingly simple question. Before we get into the factors for consideration, lets create a hypothetical for our review.  Suppose you have the following 3 federal loans for a total of $30,000: Loan A has a balance …

The SherpaShould I Consolidate my $30,000 of Federal Student Loans?
PNC Student Loans Review

PNC Solution Loan – Private Student Loan Review

The Sherpa Blog, Student Loan Reviews, Student Loans Leave a Comment

PNC offers a wide range of student loans that will cover the needs of students ranging from college freshman to law school graduates studying for the bar.  PNC has five main student loans.  They are the Undergraduate Solution Loan, The Graduate Solution Loan, Loans for health and medical professionals, loans …

The SherpaPNC Solution Loan – Private Student Loan Review
avalanche vs snowball

Avalanche vs. Snowball: Which approach pays off debt faster?

The Sherpa Best Of, Blog, Money Saving Tips, Student Loans 1 Comment

If you are serious about paying off your student loans, and any other debt you have, step one is obviously to make a budget.  But once you set aside money each month to pay down your debt, the next question is what loan do you pay down first? There are …

The SherpaAvalanche vs. Snowball: Which approach pays off debt faster?
year away from school student loans

Keeping your Student Loans under control while you’re away from school

The Sherpa Blog, Student Loans Leave a Comment

The traditional four-year education may work for some people, but life has a funny way of throwing a monkey wrench into our plans.  If you have already gotten some student debt and are thinking about taking some time off of school, you will want to make sure that you have …

The SherpaKeeping your Student Loans under control while you’re away from school
cosigner release denial

Denied a cosigner release? Here are your options…

The Sherpa Best Of, Blog, Student Loans 2 Comments

Most private lenders advertise cosigner release programs.  The advertising pitch is usually all the same… sign up with our loan, get a cosigner, and then when your credit is good we will “release” the cosigner from the loan. It is an effective sales pitch, because it encourages cosigning for loans. …

The SherpaDenied a cosigner release? Here are your options…
federal vs private grad loans

Why Should I take out a federal loan for grad school?

The Sherpa Blog, Student Loans 2 Comments

A common question faced by graduate students is, “How on Earth am I going to pay for this program?” The people who opt to fund their education are often advised to take out federal student loans instead of private student loans.  Savvy future grad students are quick to point out …

The SherpaWhy Should I take out a federal loan for grad school?
custudent loan review

CUstudentloans.org Private Student Loan Review

The Sherpa Blog, Student Loan Reviews, Student Loans 2 Comments

Editors Note: This article applies to the cuScholar Private Student Loan.  If you are a graduate interested in consolidation, check out our cuGrad Student Loan Consolidation review. cuStudent loans is a slightly different lender with a slightly different approach to student loans.  This results in some very unique pros and …

The SherpaCUstudentloans.org Private Student Loan Review
break free from student loans

Should I pay off my student loans with a huge lump payment?

The Sherpa Blog, Student Loans 4 Comments

We just received another reader email with a great question that many people likely face.  With today being the Fourth of July, it seems an especially fitting question to address. I have been paying off my Sallie Mae student loan for more than 15 years now.  It’s never posed a …

The SherpaShould I pay off my student loans with a huge lump payment?