Below you'll find a list of all posts that have been categorized as “Repayment”
Federal student loans have the best repayment plans and options for student loan forgiveness. As a result, converting private student loans into federal loans can be a really smart idea. Unfortunately, there isn’t a simple procedure or mechanism to turn private loans into federal loans. Borrowers that wish to turn …
Not everyone finishes school and steps directly into their first “real” job. Before the real work starts, there are often periods of job searching, temp work, unemployment, funemployment, and desperation. During this time, managing student loans for many is a game of whack-a-mole. Borrowers do what they can to keep …
When I finished college, my first job paid $15 per hour. Repaying student loans seemed impossible. I knew I wasn’t going to be one of those people who eliminated their student debt in mere months. I was worried that I might never be able to pay back my loans. Fortunately, …
About ten years ago, during the worst of the Great Recession, I finished college. I had no job and six figures of student loan debt starting repayment. It was terrifying. I spent hours every day crafting cover letters and tweaking my resume. Most employers ghosted me — not even taking the …
Editor’s Note: This article was originally published on August 10, 2020. It has been updated to include new guidance on student loan forgiveness provided by the Department of Education. The Coronavirus pandemic has caused the federal government to take unprecedented steps to help borrowers manage their debt. In March, the …
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 …
Public Service Loan Forgiveness gets all of the headlines. However, for-profit, private sector businesses employ most Americans. These businesses are not eligible for PSLF. Do private-sector employees have access to student loan forgiveness programs? How do they qualify? All federal student loan borrowers are eligible for student loan forgiveness, including …
Having a cosigner is a big deal to student loan lenders. Instead of having one person legally required to pay back the debt, cosigned loans have two. Many lenders advertise a cosigner release, but actually getting approved can be a major challenge. The problem faced by many cosigners isn’t just …
As the number of employer student loan assistance programs continues to grow, more and more borrowers can get a bit of extra help on their student debt. Due to the unique nature of these company programs, they can complicate student loan repayment strategy. This problem falls firmly into the category …
Getting a diploma doesn’t always mean a dream job. Some recent graduates may have an entry-level position that barely pays the bills. Others may not have found a job in their desired field. Worst of all, some may not even have an income at all. Employment uncertainty can cause many …
