Below you'll find a list of all posts that have been categorized as “Lower Payments”
Dealing with student loans can be a scary and can be a challenge. Unfortunately, if you are not doing your research, odds are you are paying more than necessary. Here are five of the most common ways people make mistakes on their student loans. 1. Signing up for the wrong …
Earlier this week I received the following email from a reader: I’m writing because recently I have been trying to consolidate my private loans and have run into a snag: I have too much debt with regard to my income (surprise!). I have excellent credit and make the huge payments …
Many student loan borrowers can improve their credit score by consolidating or refinancing their student loans. Unfortunately, not all borrowers see an increase. Some borrowers may see their score drop by consolidating or refinancing. Though federal direct consolidation and private student loan refinancing are very different processes, the impact on …
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 …
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 …
