Below you'll find a list of all posts that have been categorized as “Strategy”
There is a debate about who should be expected to pay for Parent PLUS loans. Those looking at things from a moral standpoint might reach a different conclusion than those looking at it from a legal point of view. What isn’t up for debate is the fact that paying off Parent …
As we approach the holiday season, millions of Americans look forward to — or dread — family gatherings. In between discussions on the year’s events, turkey, politics, and football, I’d like to suggest one other important topic of discussion: student loans. Mixing financial discussions with family may seem inappropriate, but …
Setting up an automatic monthly debit for student loans is usually a relatively simple process with most lenders. Many even offer a slightly reduced interest rate as an incentive for auto-debits. Is giving a student loan servicer the authority to auto-pay student loans a good idea? In many cases, automatic …
The two most everyday factors in getting approved for student loan refinancing are a borrower’s credit score and debt-to-income ratio. Where credit score is a reasonably straightforward term to understand, debt-to-income ratios (DTIs) are a bit more complicated. In order to sort out this issue, we reached out to a …
One of the most common student loan repayment strategies is to pay off the highest interest student loan first. But this one size fits all approach isn’t always the best idea. In many cases, student loan borrowers should focus on paying off their private loans before attacking their federal loans. …
Private student loans should come with a warning label. For many borrowers, student loans are a necessary tool in the pursuit of the American dream. Used properly, student loans can be an excellent investment in the future. The problem with student loans is that things don’t always go as planned. …
Public Service Loan Forgiveness gets all of the headlines, but most Americans are employed by a private sector, for-profit employer. Do these employees have access to student loan forgiveness programs? How do they qualify? All federal student loan borrowers are eligible for student loan forgiveness, including private sector and for-profit …
One of the most frustrating aspects of student loan debt is that interest eats up large portions of your monthly payment. Interest can be so bad that in some cases, the monthly interest is larger than the monthly payment. Borrowers facing high interest rates may never miss a payment and …
One of the most frustrating student loan problems is a lender mistake. Whether it is a servicer miscalculating payments, a lender withdrawing too much money, or a student loan company applying funds to the wrong long, correcting these mistakes may appear to be complicated. The good news is that there …
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 …
