The Co-Signer Release Myth Exposed by Consumer Financial Protection Bureau
Lenders love to advertise co-signer release programs. CFPB research shows getting approved for a release is really difficult. However, their are ways around this issue.
There is a long list of resources to knock out federal and private student loans. For many borrowers, the ideal approach will be a combination of some of the programs below.
If you are brand new to student loan repayment, this guide is a helpful starting point.
Lenders love to advertise co-signer release programs. CFPB research shows getting approved for a release is really difficult. However, their are ways around this issue.
It is ridiculous to argue that student loan forgiveness is a handout for the wealthy or a program that doesn’t benefit most Americans.
Interest usually accrues during a forbearance or deferment. However, there are a couple of noteworthy exceptions to the rule.
Minor tweaks to interest rates and student loan forgiveness could provide relief to millions of student loan borrowers.
Telling your cosigner you can’t afford your student loan payments is scary. Not telling them and missing a payment is much worse.
Consolidation is essential for some borrowers and extremely risky for others. There are exactly four situations where it makes sense to consolidate federal student loans.
Some PSLF issues can be corrected with ease. In other cases, a PSLF application rejection means starting from scratch.
MyFedLoan exiting student loan servicing means headaches for borrowers. However, some issues are avoidable.
Dave Ramsey has earned his reputation as a trusted personal finance expert, but his one size fits all approach to student loans has flaws.