Below you'll find a list of all posts that have been categorized as “Repayment”
Today we will take a look at five common student loan mistakes that are relatively easy to avoid. The unifying theme with these simple mistakes is that all borrowers can avoid them. A huge income or a vow of poverty is not necessary. Don’t Sign Up for the Wrong Repayment …
Under the right circumstances, IBR, PAYE, or REPAYE might be the best Income-Driven Repayment (IDR) Plan. Deciding which IDR plan is the best option will depend upon many different factors. Marital status, loan age, tax strategy, and loan type all impact which choice will have the lowest payment. Today I …
Scenario: After saving and sacrifice, you finally have enough money in your bank account to pay off your entire student loan balance. Before sending off the final check, you want to make sure that there are not any negative consequences you are overlooking. Knocking out a student loan balance in …
As a student loan borrower, I’m excited about the possibility of some form of student loan forgiveness happening in 2021. Democratic leaders like Elizabeth Warren and Bernie Sanders appear eager to cancel federal student debt. In Joe Biden, they have a powerful ally in the White House who may be …
One of the biggest downsides to Public Service Loan Forgiveness (PSLF) is that the program wasn’t designed to help with private student loans. Borrowers chasing PSLF have a clear path to debt freedom with federal loans. Unfortunately, those with private loans often face significant challenges. Today I will break down …
We ranked the best student loan forgiveness programs according to how easy they are to qualify for and how many borrowers could be eligible. Some programs require borrowers to be in a specific field or occupation. Other programs only apply to federal student loans. Student loan forgiveness can also have …
The Department of Education is currently issuing payment refunds to borrowers who made federal student loan payments during the Covid-19 Pandemic. This relief includes payments that were made by an automatic direct deposit and by manual withdrawal. Borrowers who have had wages garnished are also eligible for a refund. All …
Avalanche and Snowball are two of the most popular student loan repayment methods. While these wintery sounding names might sound like a gimmick, do not be fooled. Avalanche and snowball are both powerful ways to eliminate debt. What are the avalanche and snowball methods of student loan repayment? There are …
First, a warning: The entirety of this article will focus on paying off student loans as quickly as possible. This means little or no discussion on loan forgiveness, marital status, or retirement planning. Fast debt elimination is the only objective. Robbing a bank or winning the lottery are methods that conceivably could …
Repaying over 100k in student loans is a huge challenge. If the debt comes from undergraduate studies, it can be even more difficult. Unlike graduate school, where federal loans are practically limitless, undergraduate students usually need private lenders to rack up $100,000 worth of student loans. A large amount of …
