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 …
Student Loan Tips and Suggestions for Borrowers Still in School
I’ve been helping people with their student loans since 2013. Of the thousands of borrowers I’ve come across, only a handful have been worried about their loans while they still are in school. To put it bluntly, many people spend their time in school creating student loan problems, and then …
The Two Most Effective Ways to Eliminate Student Debt
Confession Time: For over five years this site has largely ignored two steps that can be taken that would help people dramatically reduce their student debt. To be fair, the things that we focus on, such as careful tax planning, finding ways to lower interest rates, and pursuing student loan …
Feeling Student Debt Pressure? Go to the Library
Spending time at the local library won’t make your student loans disappear overnight. However, it will help borrowers struggling with student debt in a number of different ways. Not only is the local library free, but it is an excellent resource in eliminating student loans. The many wonderful services of …
Personal Finance Lessons to Learn BEFORE College
In many ways college is the perfect environment for learning. Most students are on their own for the first time, and the lessons they learn, both in and out of the classroom will last a lifetime. Unfortunately, many recent college graduates learn some very expensive lessons too late. While millions …
Student Loans, Rent, and Retirement: How to Build Wealth and Fight Debt
Paying off student loans is an uphill battle. Interest rates work against you and loan servicers frustrate the process. Making things even more complicated is the fact that we do not pay off student loans in a vacuum, life goes on during repayment. There are other expenses, and far off …
Retirement Planning for IBR and PAYE borrowers
Planning for retirement always seems to take a backseat when it comes to dealing with student loans. In many ways the debts of the past make planning for the future difficult. The many variables of IBR and PAYE make planning even more difficult. At present, loans can be forgiven after …
Is there a penalty to paying off my federal student loan early?
Federal student loans can be a huge headache, but fortunately, penalties for paying off the loans early are not an issue. There are no prepayment costs and the interest rate does not go up if you pay early. In fact, with the interest rate compounding on a daily basis, the …
Retirement, Taxes and Student Loans
Retirement, taxes, and student loans are a horribly unpleasant trio for most millennials. For many, taxes are too high, student loans will never be paid off, and retirement is a far away dream at best. In short, it is bad news, bad news, and more bad news. The good news …
Should I pay off my credit cards or student loans first?
Generally speaking knocking out your credit card debt before you pay off your student loans is the smartest financial move. This is because most credit card interest rates greatly exceed the interest rates on most student loans. That being said, before you decide on a strategy, there are a few …