Getting the most from your minimum payment
Some minimum payments are better than others. Careful borrowers can maximize the value of each minimum payment.
Some minimum payments are better than others. Careful borrowers can maximize the value of each minimum payment.
Federal student loans are the best option, but after maximizing federal loans, the next best choice depends upon a few different circumstances.
A student loan interest deduction is a nice perk at tax time, but it isn’t valuable enough to change student loan repayment strategy.
Private consolidation of federal loans has major risks and major rewards. With no way to undo the decision, borrowers need to be certain they’re not making a mistake.
If student loan forgiveness is your plan to pay off your student loans, borrowing extra might seem harmless. However, there are a few major risks.
Sallie Mae loans almost always have a cosigner and the rates offered range from excellent to truly awful.
Student loan forgiveness for all and debt cancelation are controversial solutions to a major problem. Other options might not be as helpful, but could be easier to make a reality.
If a deferment or forbearance isn’t available on your student loans it is time to explore some more creative options to keep payments affordable.
Student loans are an obstacle for borrowers that want to refinance their house, but there are ways to get student loans ready for the application.