Below you'll find a list of all posts that have been tagged as “strategy”
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 …
It is no secret that student loan lenders are not charities, but in fact, they are in business to make money. Over the years the law has progressively become more and more lender friendly. As a result, many borrowers and their cosigners have found themselves in ridiculous positions. One of …
Enrolling in an Income Based Repayment Plan for your student loans is a fairly easy task. Not only is IBR a great way to lower your monthly payments, but the program also offers benefits such as student loan forgiveness. However, be advised that signing up for IBR is a little …
Yesterday Nate from twitter asked us a great question. He wanted to know why he should be in a rush to pay off his student loans if the interest was tax deductible: @DebtRoundUp @TheLoanSherpa is there any financial incentive to pay off student loans faster if interest is tax deductible? …
Retirement seems like a faraway possibility… maybe even a dream. Meanwhile, student loans can be the nightmare of the present. Taking money out of a 401(k) account to pay down student debt is a real temptation. Why worry about a financial crisis 30 years in the future when you are …
Federal interest rates suck. Many federal borrowers are paying upwards of 8% on their student loans. This number does not change as interest rates drop, nor does it change if you have a great income or credit score. Because of these facts, private consolation of federal loans has serious appeal. …
Student debt has been in the news a lot lately, and for once, it is good news for borrowers. Two leading presidential candidates, Elizabeth Warren and Bernie Sanders, have proposed massive student loan forgiveness programs… often called student debt cancellation. While there is certainly plenty to like about the plans …
With mortgage rates near record lows, many student loan borrowers are thinking about using a mortgage refinance to attack their student debt. The process is called a “cash-out” mortgage. Instead of refinancing the amount currently owed on a house, in a cash-out refinance, homeowners borrower more than what they owe. …
The hot political debate right now is whether or not student loan forgiveness for all borrowers is a good idea. Presidential candidates Elizabeth Warren and Bernie Sanders both have released plans for forgiveness and it appears the issue will be a factor in the 2020 election. I’m of the opinion …
Now that Bernie Sanders and Elizabeth Warren have both proposed massive student loan forgiveness, it introduces a complicated situation for borrowers. Traditionally, paying off student loans aggressively — often utilizing student loan refinancing — was the most efficient way to pay off debt. This path might make less sense now …
