Below you'll find a list of all posts that have been tagged as “strategy”
Most parents are happy to make sacrifices for their children. Many parents won’t hesitate to withdraw funds from their 401(k) to help their children pay for college. Unfortunately, the drive to provide for the next generation can lead to major financial mistakes. The Harm in Withdrawing Money from a 401(k) …
In theory, it should be easy to end procrastination on your student loan issues. After all, each day that passes means more interest and more debt. In reality, overcoming procrastination on student debt can be a huge challenge. Managing student loans can be overwhelming and frustrating. Add rude or unhelpful …
Federal student loans have the best repayment plans and options for student loan forgiveness. As a result, converting private student loans into federal loans can be a really smart idea. Unfortunately, there isn’t a simple procedure or mechanism to turn private loans into federal loans. Borrowers that wish to turn …
Not everyone finishes school and steps directly into their first “real” job. Before the real work starts, there are often periods of job searching, temp work, unemployment, funemployment, and desperation. During this time, managing student loans for many is a game of whack-a-mole. Borrowers do what they can to keep …
When I finished college, my first job paid $15 per hour. Repaying student loans seemed impossible. I knew I wasn’t going to be one of those people who eliminated their student debt in mere months. I was worried that I might never be able to pay back my loans. Fortunately, …
Refinancing student loans has grown in popularity because it presents many borrowers with an opportunity to save money on interest. However, refinancing can be a mistake when done with the wrong loan or at the wrong time. How does a borrower know when to refinance their student loans? The simple …
Government employees considering student loan refinancing need to be especially careful. The allure of lower monthly payments and a better interest rate can be tempting. However, borrowers should understand that while there are circumstances where a refinance might make sense, a mistake refinancing can be financially catastrophic. A Private Lender …
Guiding student loan borrowers through the financial crisis presents financial planners with several challenges. Borrowers may have the chance to take advantage of lower interest rates, but some of these strategies come with additional risks. Most planners should be able to direct their clients to options that take advantage of …
Both federal student loan consolidation and private student loan refinancing have significant advantages. These two processes can easily save borrowers thousands of dollars when done correctly. However, both federal consolidation and private refinance come with significant risks. The potential dangers are part of the reason that I hate to see …
In this edition of the student loan plan, we take a look at Lindsey’s private student loan dilemma. On the student loan forums, she shared that she has one loan with an interest rate above 10%. While this rate is outrageously high, it is also surprisingly common. If you want tips …
