Life for student loan borrowers could be dramatically different now that Joe Biden has been sworn in as President. Predicting what might change and what will stay the same requires a bit of guesswork, but other predictions come with a high degree of confidence. As a candidate, Joe Biden released …
Tips to Put an End to Student Loan Procrastination
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 …
How to Convert Private Student Loans into a Federal Student Loan
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 …
Dealing With Student Loans Once You Get Your First Real Job
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 …
How to Pay Back Student Loans on a $15 Per Hour Job
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, …
Federally Held Loans vs. Federal Student Loans
The differences between a federally-held student loan and a federal loan have never been more important. Federally held loans are eligible for programs like Public Service Forgiveness. Federally held loans are the only loans that benefit from the Covid-19 payment and interest freeze. Unfortunately, not all federal student loans are …
6 Ways to Fix Student Loan Debt on Mortgage Applications & Buy a Home
Student loan borrowers can buy a house, but student debt can make qualifying for a mortgage difficult. Student loans affect a mortgage applicant’s debt-to-income ratio and credit score. Mortgage underwriters have historically been hard on income-driven borrowers, but things are getting better. Student loan refinancing and other strategies may minimize …
Five Reasons Cosigning a Student Loan is a Mistake and One Exception
Over the years, I have gotten many heartbreaking emails from readers. Frequently, these emails come from student loan cosigners who feared they made a mistake. At its core, cosigning is a selfless decision. The cosigner receives no benefit, takes on tremendous risk, and helps a loved one afford college. Sadly, …
Google to Provide $2,500 Student Loan Benefit
Google has jumped into the discussion of the student loan crisis. Today Google announced a student loan repayment program. Starting in 2021, employees will be able to get up $2,500 in matching student loan payments from Google. The announcement is excellent news for Google employees, but it could impact many …
How to Qualify for a Navient Cosigner Release (Plus a Shortcut)
Being a cosigner on a student loan can be a huge burden. If the primary borrower falls behind on the loan, cosigners must make payments. Even if things go according to plan, cosigners may find it more difficult to qualify for additional lines of credit or a mortgage. Fortunately for …