Below you'll find a list of all posts that have been categorized as “Strategy”
The Pay As You Earn repayment plan is the federal student loan repayment plan that has the lowest required monthly payments for most borrowers. It also is the plan that has the best student loan forgiveness program. Pay As You Earn (PAYE) requires borrowers to pay 10% of their discretionary …
Income-Driven Repayment plans like IBR, PAYE, and REPAYE are the gold standard for repayment flexibility. Borrowers make payments based upon what they can afford, rather than what they owe. Unfortunately, these highly regarded plans are not always the best option for student loan borrowers. Even though IBR, PAYE, and REPAYE …
There may be some debate about the severity of the student loan crisis, but what isn’t up for debate is the fact that student loans are becoming a serious issue for many Americans. As people learn the dangers of student debt, it is logical to ask: could paying for college …
Like student loan debt, freelancing and self-employment are on the rise in the United States. The unpredictable nature of freelance work can make student loan repayment a challenge. Most student loan repayment plans were designed for borrowers with a steady income; those who don’t get the same paycheck every two …
Repaying federal student loans may seem impossible. Maybe you don’t have a job, or perhaps the bill seems far too high. Overwhelmed borrowers often make the mistake of ignoring their student loans and fall into delinquency or default. Unemployment or underemployment does not have to get in the way of …
Public Service Loan Forgiveness (PSLF) provides borrowers an opportunity to get unlimited amounts of federal student loans forgiven tax-free. The danger with pursuing PSLF is that it takes at least ten years, and borrowers could at risk of the program being canceled, rules changing, and rejection. Planning ahead requires asking …
Repayment of student loans can be complicated for attorneys in private practice. Many face six-figure mountains of debt. Some may find high paying jobs, while others struggle. As time passes, the attorneys who experienced early success may find hardships and the ones who faced initial difficulties may find lucrative work. …
Most student loan borrowers realize that paying extra towards their debt will get the loans paid off faster. What many people fail to realize is the dramatic difference that just a little bit extra can make. This dramatic difference is especially true for people who are making minimum payments. Borrowers …
It is hard to overstate the importance of deciding between aggressively paying off your student loans through refinancing or waiting for student loan forgiveness. Doctors, lawyers, and many other professionals with graduate degrees often have well over $100,000 in federal student loans, and the wrong decision could cost thousands of …
Once student loan borrowers realize how much they spend on student loan interest on a daily basis, they often choose to aggressively attack their student debt. When this aggressive repayment begins, one financial safeguard that often gets overlooked is the need for an emergency fund. Today we will look at …
