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Many student loan borrowers are able to improve their credit score by consolidating or refinancing their student loans. Unfortunately, not all borrowers see an increase in their score. Some borrowers may actually see their score drop by consolidating or refinancing. Though federal direct consolidation and private student loan refinancing are …
Federal student loan consolidation isn’t easy for many borrowers to navigate. For some borrowers, federal student loan consolidation is an essential step to getting their student debt eliminated. For others, federal student loan consolidation would be a major mistake. Today we will cover it all: What is Federal Student Loan …
Paying off student loans with a credit card is an ideal scenario for many borrowers. Using a credit card to pay off student loans has two big advantages: Borrowers can quickly rack up credit card rewards and points, and; Borrowers can strategically use 0% credit card into rates to save …
Phone calls with lenders can be especially stressful. For many borrowers, student loans are by far their biggest debt. Student loan companies, including federal student loans servicers like Navient and MyFedLoan have a well deserved reputation for lousy service. This combination of financial pain and terrible customer service can be …
Student loan debt in the United States is now climbing past $1.5 trillion. Not only are there more borrowers, but on average they owe more. Some in the media portray hitting this milestone as no big deal, or even a potentially good thing, while others proclaim doom and gloom. For …
Article Updated 4/14/19 to include the latest available interest rate information. SoFi and LendKey are both premium student loan refinancing and consolidation companies. At present they are both ranked in the top ten in our student loan refinance rankings. How is a borrower to pick the best lender? The LendKey …
In today’s Sherpa Mailbag we take a look at Jane’s repayment strategy. She will be starting a PSLF eligible job in a few months and is trying to decide what needs to get done now and what should wait until she is earning a paycheck. If you have a question about …
Student loans are often the subject of confusion. To some, they are all pretty much the same. To others, student loans are incredibly complicated and difficult to understand. Before jumping into repayment strategy and digging into tips and tricks for eliminating the debt, it is critical that a borrower understand …
Refinancing debt can be a powerful financial move. The investment of time is relatively minimal and the process can save hundreds of dollars a month, and many thousands of dollars in interest over the life of the loan. For this reason, many people choose to refinance their mortgage and their …
In January of 2017, the Consumer Financial Protection Bureau aggressively went after federal student loan servicer Navient. “At every stage of repayment, Navient chose to shortcut and deceive consumers to save on operating costs. Too many borrowers paid more for their loans because Navient illegally cheated them and today’s action seeks …
