Below you'll find a list of all posts that have been tagged as “planning”
As part of the financial relief during the Coronavirus epidemic, interest rates on most federal student loans have been lowered to 0%. This interest rate freeze is set to expire on September 30, 2020. Several readers have asked about the possibility of the 0% interest rate being extended beyond the …
Student loan refinancing can be a dramatic change to your student loans. Refinancing usually means a new lender, new interest rate, and new monthly payment. Fortunately for borrowers, in most cases, refinancing will not impact the student loan interest deduction. However, a small group of borrowers will receive a slightly …
When it comes to student loan interest rates, there are two basic options: Option one is a fixed-rate loan, where the interest rate does not change over the life of the loan. Option two is a variable-rate loan. The advantage with variable-rate loans is that the interest rates start much …
Funding a college education has always been a source of stress inside college families. Navigating the FAFSA and tracking down the right mix of scholarships, grants, and loans can be a time-consuming endeavor. For many, the growing cost of higher education has represented a significant hardship. Adding COVID-19 and the …
One of the most frequent reader questions that I receive looks something like this: Please help! I cosigned a student loan for my child/grandchild/friend, and they are not making payments. The lender keeps calling me. What can I do? In some cases the primary borrower cannot afford the payments. In …
Editor’s Note: This article has been updated on March 14, 2020, to include information about President Trump’s plan to pause all interest on federal student loans. Coronavirus is, first and foremost, a major health and safety concern. On a daily basis, new cases of the life-threatening disease are reported in …
Though we are early in the Democratic primary process, at this point, Bernie Sanders the frontrunner to secure the Democratic nomination. For many student loan borrowers, this comes as an exciting development. Bernie Sanders has promised to eliminate all existing student loans — both federal and private. Sanders may have …
I’m not a fan of having cosigners on loans. It is a huge commitment for the cosigner, and if the borrower runs into trouble, it can destroy a close relationship. Lenders like to advertise cosigner release programs, but they have almost no incentive to grant a release, and securing the …
As we kick off a brand new decade, now is a great time to look into our crystal ball to see what the future holds. Making exact predictions about student loans is nearly impossible. There is no way to determine the precise changes that will be made or when they …
When evaluating college options, it is easy to get sticker shock. Tuition and housing can cost well over $50,000 per year at many schools. Some are closer to $100,000 per year by the time all the costs of attendance are included. Despite the scary numbers, it is a big mistake …
