Below you'll find a list of all posts that have been categorized as “Lower Payments”
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 …
This is something that I often hear, but the truth is, it is rarely the case. Without question, student loans can be really overwhelming. In fact, many borrowers are staring at a mountain of debt that they couldn’t pay off even if they used every dime they made for years. …
One of the issues with the Revised Pay As You Earn Plan is that spousal income is almost always included in calculating your ability to pay (unlike IBR and PAYE). However, if you and your spouse would both benefit from REPAYE, it still might be a good option. The following …
In this edition of the Student Loan Plan, we discuss the refinancing and consolidation strategy for Amy, who has $42,000 in private student loans between two companies. If you want tips for dealing with your student loans, contact us. Amy writes: I have two private loans; one from Discover with a …
Refinancing your federal student loans can be a savvy financial move. The refinancing process allows borrowers to lock in lower interest rates and get debt free faster. Though there are a few landmines that should be avoided, the refinancing process is relatively simple and painless. The Refinancing Process Because the …
4/30/17 Update: Thanks to a couple sharp readers who noticed an issue with this article it has been updated. The previous text that was wrong is now crossed out, with the updated information below. Revised Pay As You Earn is the latest income driven repayment plan offered by the federal government. …
