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Refinancing a refinance student loan might sound redundant, but it is an excellent way for borrowers to eliminate debt more efficiently. Not all borrowers should try to refinance their student loans a second time, but in many circumstances, the permitted extra refi can save a bundle and provide some financial …
Most federal student loans have a 0% interest through September. Depending upon what transpires over the next few months, the 0% interest could be extended. During this time, borrowers are not required to make payments. Many are suggesting that those who can still make payments should continue to make payments. …
Funding a college education has always been a source of stress inside college families. Navigating the FAFSA and tracking down the right mix of scholarships, grants, and loans can be a time-consuming endeavor. For many, the growing cost of higher education has represented a significant hardship. Adding COVID-19 and the …
Repayment of student loans can be brutal. Interest accrues daily, servicers offer little help, and large segments of the population blame borrowers for their debt even though college has never been more important or more expensive. A growing percentage of student loan borrowers have reached the point where they realize …
Repaying student loans is a marathon. Smart borrowers know that the interest on the loan is the real enemy. Payments towards interest do not lower the balance owed. Instead, interest payments are simply lender profits. For this reason, many responsible borrowers pay a little extra each month towards their loans. …
Rideshares like Uber and Lyft have become a popular side-hustle for knocking out student debt. The flexibility of picking your hours is often presented as a perk, but inconsistent earnings can make formulating a student loan repayment strategy difficult. Fortunately, there are several resources that student loan borrowers can utilize …
The first student loan payment can be scary. When the average borrower begins their repayment journey, they face many hard questions: Am I doing this right? Am I paying too much? Will I ever get my loans paid off? How does anyone get their debt paid off? Will I be doing …
Many parents may not have been able to help their children fund college while their kids were in school, but as these parents approach retirement, they get a second chance to help pay for school in the form of student loan repayment assistance. One such parent recently emailed us the …
One of the most frequent reader questions that I receive looks something like this: Please help! I cosigned a student loan for my child/grandchild/friend, and they are not making payments. The lender keeps calling me. What can I do? In some cases the primary borrower cannot afford the payments. In …
Student loan consolidation and refinancing are excellent tools for borrowers hoping to get their finances in order. Refinancing enables borrowers to get lower interest rates and/or lower monthly student loan payments. Federal consolidation can help borrowers qualify for favorable repayment plans and forgiveness programs. In both a refinance and a …
