Below you'll find a list of all posts that have been categorized as “Lower Payments”
Many student loan borrowers are able to improve their credit score by consolidating or refinancing their student loans. Unfortunately, not all borrowers see an increase in their score. Some borrowers may actually see their score drop by consolidating or refinancing. Though federal direct consolidation and private student loan refinancing are …
Phone calls with lenders can be especially stressful. For many borrowers, student loans are by far their biggest debt. Student loan companies, including federal student loans servicers like Navient and MyFedLoan have a well deserved reputation for lousy service. This combination of financial pain and terrible customer service can be …
Making the decision on whether or not to refinance your student loans can be very challenging. On one hand you have the low interest rates offered by the refinance companies, but you are forced to give up federal perks. One of our readers, Brad, is currently facing this dilemma. He …
For those attempting to aggressively eliminate their student loans, asking for lower payments may seem like a step in the wrong direction. However, getting lower payments has a huge advantage… flexibility. That flexibility can be used to eliminate high interest debt and lead to student loan freedom sooner rather than …
The term income-driven repayment plan is somewhat misleading. Many borrowers assume that they have to have a job with an income in order to make payments based upon how much money they earn. Fortunately, plans like Income Based Repayment (IBR), Pay As You Earn (PAYE), and Revised Pay As You …
Even if you don’t have a job or can’t afford your student loan payments, there are many steps that can be taken to make your debt more manageable. The Student Debt Trap Falling into the trap of ignoring your student loans is easy. You figure you can’t make a payment …
FedLoan Servicing, often called MyFedLoan, is one of the largest servicers of federal government student loans. In addition to being one of the biggest federal loan servicers, they have a reputation for being one of the worst. Unfortunately, this makes getting answers to some of the most basic questions difficult. …
Today’s mailbag question comes from Randy who received a great bonus last year from his employer, but is concerned that last years tax return doesn’t reflect his ability to pay. He fears his Income-Based Repayment calculation will leave him with payments he cannot afford. If you have a question for …
Planning for retirement always seems to take a backseat when it comes to dealing with student loans. In many ways the debts of the past make planning for the future difficult. The many variables of IBR and PAYE make planning even more difficult. At present, loans can be forgiven after …
I’ve been writing for this site since early 2013. I’ve also been slowly working my way through six figures of student loan debt. In my years of dealing with student loans, I’ve come across many hacks that take very little effort, but go really far. Today, I’ll be sharing my …
