Below you'll find a list of all posts that have been tagged as “strategy”
Editor’s Note: This article was originally published on February 8, 2014. It has been updated on January 22, 2020, to reflect up-to-date lender practices and edited for clarity. With interest rates at low levels, I decided to see if I could lower the interest rate on my existing auto loan. …
Editor’s Note: This article has been updated on January 16, 2020, to reflect Senator Warren’s plan to forgive student debt without Congressional approval. 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 …
There may be some debate about the severity of the student loan crisis, but what isn’t up for debate is the fact that student loans are becoming a serious issue for many Americans. As people learn the dangers of student debt, it is logical to ask: could paying for college …
On their own, income-driven repayment plans like Income-Based Repayment (IBR) and Pay As You Earn (PAYE) can be complicated. When borrowers get married, the repayment strategy and calculations get even more complicated. The married borrowers who live in community property states face the most complication. Couples who live in community …
Unlike medical schools where most graduates have strong earning potential, many law school graduates find a crowded job market and limited income. Add to the fact that many attorneys find the work to be miserable, and it should be clear that there are significant risks with attending law school. How …
For some borrowers, paying off student loans in ten years may seem impossible. To other borrowers, ten years on student debt may seem like an eternity. For all borrowers, eliminating student loans in just ten years is an accomplishment given that the average student loan borrower takes over 20 years …
Interest is the enemy of a borrower trying to repay their student debt. Payments towards interest do not lower the loan balance. Instead, payments towards interest are how lenders generate profit. It should come as no surprise that most lenders will try to maximize the portion of payments that count …
Conversations with student loan servicers are high stakes. Signing up for the wrong repayment plan could cost you thousands in the long run. Thinking you are eligible for a program when you are not could cost you tens of thousands. Getting quality information about your student loans is critical. Unfortunately …
The 2020 presidential race has made student loan planning very difficult for borrowers. Elizabeth Warren and Bernie Sanders are both promising student loan forgiveness. Should borrowers adjust their student loan strategy and refinancing decisions because the student debt might get canceled? Student loans could be forgiven as a result of …
When families set aside money for college, that money is normally utilized before borrowing any student loans. This traditional approach has served many families well. After all, why would somebody borrow money to pay for college if they already have some money set aside to pay for school? Unfortunately, the …
