For some, the question is do I take out student loans to pay for the top ranked school or do I accept a full-ride at a state school. For others, the question is do I pay full tuition at the local university or save money by going to a community …
Managing Student Loans During School
The biggest concern for a student, or parent, about college financing should be keeping student debt under control. Full scholarships to play football would be ideal, but not everyone is able to get their education paid for. As the price of education continues to grow, student loans have never been …
Resolving Complaints with Navient or Sallie Mae
Dealing with a student loan issue can be terribly frustrating. Errors are all too common, and when they do happen, they can be very difficult to fix. Of all the reader emails we receive, the most common boils down to the following: Sallie Mae/Navient did X… they should have done …
Sheltering Income for lower Student Loan Payments
If you are on an income driven student loan repayment plan, such as IBR, PAYE or REPAYE you may know that your payments are based upon your “discretionary income”. Clever minds may wonder what exactly is “discretionary income” and how do I lower it so that I can get lower …
Denied a cosigner release? Here are your options…
Most private lenders advertise cosigner release programs. The advertising pitch is usually all the same… sign up with our loan, get a cosigner, and then when your credit is good we will “release” the cosigner from the loan. It is an effective sales pitch, because it encourages cosigning for loans. …
Student Loan Deferments are a Recipe for Disaster
Are you thinking about deferring your student loans for a few months? A deferment (or a forbearance) may seem like a good idea, but it is almost always a mistake. In fact, there is really only one type of circumstance in which a deferment is a smart decision. Reasons you …
Should I sell my Condo to pay off my student loans?
Yesterday we received an email from someone considering selling off his condo in order to pay off all of his student loans. While we have heard of many extreme measures taken to pay off student loans, this one might take the cake. The idea of parting with your home to …
How Student Loans are Dragging Down the Housing Market and Hurting Everyone
The average student loan borrower knows first hand how difficult it can be to buy a home when saddled with student debt. Some student loan borrowers struggle to set aside money for a down payment. Others struggle to get approval on a mortgage because of their existing debt. In many …
Public Service Forgiveness for Parent PLUS Loans
Parent PLUS loans are in many ways the black sheep of the federal student loan system. Federal loans are usually considered to be far superior to private loans, in part because of the great repayment plans and forgiveness programs that are available through the federal government. Unfortunately, many of these …
Getting the most from your minimum payment
When you are only making minimum payments on your student loans, it seems like the debt will never be paid off. By making the minimum payments, most of the check you send each month will go towards interest. That is the reason most “experts” recommend paying more than the minimum …