should parents pay for college

Should Parents Be Expected To Pay For College?

The Sherpa Blog, Student Loans 5 Comments

Figuring out how a college education will be funded is a huge challenge.  Before we get into the man considerations that families need to consider, lets first clear out a couple misconceptions. Parents are under no legal obligation to pay for their child’s education.  (Yes, there are some very limited …

The SherpaShould Parents Be Expected To Pay For College?
pain points recruiting for profit

Pain Points Recruiting: A For-Profit Scheme to Dupe Students

The Sherpa Blog, For-Profit Schools, Student Loans 1 Comment

For-profit Colleges have been taking a beating in the press and been the subject of multiple lawsuits brought by the Consumer Financial Protection Bureau.  Among the chief complaints about these schools is that they mislead students into paying for an overpriced education with a low graduation rate and terrible employment …

The SherpaPain Points Recruiting: A For-Profit Scheme to Dupe Students
common lender complaints and solutions

Common Student Loan Lender Complaints and Some Suggestions

The Sherpa Blog, Student Loans 2 Comments

This week the Consumer Financial Protection Bureau released its annual student loan report.  One cool feature of the report is that they include a number of actual complaints that people have about their lenders.  While the complaints are useful to know about, we thought some suggestions on how people could …

The SherpaCommon Student Loan Lender Complaints and Some Suggestions
Flag_of_Tennessee Promise

The Tennessee Promise – Hope for a Better Future

The Sherpa Blog, News, Student Loans 9 Comments

Earlier this year, Tennessee became the first State to offer higher education free of charge to it’s residents.  The Tennessee Promise is simple.  In the words of Tennessee Governor Bill Haslam to the Class of 2015, “You now have the opportunity to attend two years of community or technical college …

The SherpaThe Tennessee Promise – Hope for a Better Future
should I consolidate federal private student loans

Should I Consolidate My Federal Loans Into A Private Loan?

The Sherpa Blog, Student Loans 3 Comments

Federal interest rates suck.  Many federal borrowers are paying upwards of 8% on their student loans.  This number does not change as interest rates drop, no does it change if you have a great income or credit score.  Because of these facts, private consolation of federal loans has great appeal. …

The SherpaShould I Consolidate My Federal Loans Into A Private Loan?
Paying off Student Loan credit score

Can Paying Off My Student Loans Hurt My Credit Score?

The Sherpa Blog, Student Loans 10 Comments

Unfortunately, the answer is yes.  Paying off your student loan, seemingly an action that would indicate your are more credit worthy, can actually lower your score. How does this happen? One of the factors that affect your credit score is the age of your oldest account.  The thinking behind it is that …

The SherpaCan Paying Off My Student Loans Hurt My Credit Score?
student loans mortgage statistics

More Evidence on the Effect of Student Loans on the Housing Market

The Sherpa Blog, News, Student Loans 4 Comments

In a recent study released by TransUnion, one of the three major credit bureaus, student loan balances have surged over the last decade.  Though this is hardly groundbreaking news, the interesting part about the TransUnion study is how they broke down the data. Typically, student loan debt analysis is done based …

The SherpaMore Evidence on the Effect of Student Loans on the Housing Market
student loan consolidation and repayment strategy

The Sherpa Mailbag: Consolidation, Big Payments, PAYE and Strategy

The Sherpa Blog, Mailbag, Student Loans 5 Comments

This morning I got an email from a reader who wanted input on repayment strategy.  Specifically, she wanted advice on making a lump sum payment and whether or not she should consolidate.  Her situation is as follows: Approximately 100k in federal student loan debt 5 loans at various interest rates …

The SherpaThe Sherpa Mailbag: Consolidation, Big Payments, PAYE and Strategy