For some, the question is do I take out student loans to pay for the top ranked school or do I accept a full-ride at a state school. For others, the question is do I pay full tuition at the local university or save money by going to a community …
Managing Student Loans During School
The biggest concern for a student, or parent, about college financing should be keeping student debt under control. Full scholarships to play football would be ideal, but not everyone is able to get their education paid for. As the price of education continues to grow, student loans have never been …
The Kamala Harris Student Loan Plan Needs Improvement
As more and more Americans face a very serious student loan burden, politicians have made student debt a key issue in the 2020 Presidential Campaign. The most noteworthy student loan proposals have come from candidates Bernie Sanders and Elizabeth Warren. Though there are a few key differences with their plans, …
Resolving Complaints with Navient or Sallie Mae
Dealing with a student loan issue can be terribly frustrating. Errors are all too common, and when they do happen, they can be very difficult to fix. Of all the reader emails we receive, the most common boils down to the following: Sallie Mae/Navient did X… they should have done …
How to Fix the Warren and Sanders Debt Forgiveness Plans
Earlier this year, Elizabeth Warren made headlines by announcing a plan to forgive student debt for most borrowers, up to $50,000. The plan earned praise from many on the left and criticism from many on the right. Bernie Sanders entered the discussion by making a large student debt forgiveness proposal …
Sheltering Income for lower Student Loan Payments
If you are on an income driven student loan repayment plan, such as IBR, PAYE or REPAYE you may know that your payments are based upon your “discretionary income”. Clever minds may wonder what exactly is “discretionary income” and how do I lower it so that I can get lower …
Denied a cosigner release? Here are your options…
Most private lenders advertise cosigner release programs. The advertising pitch is usually all the same… sign up with our loan, get a cosigner, and then when your credit is good we will “release” the cosigner from the loan. It is an effective sales pitch, because it encourages cosigning for loans. …
Student Loan Deferments are a Recipe for Disaster
Are you thinking about deferring your student loans for a few months? A deferment (or a forbearance) may seem like a good idea, but it is almost always a mistake. In fact, there is really only one type of circumstance in which a deferment is a smart decision. Reasons you …
Should I sell my Condo to pay off my student loans?
Yesterday we received an email from someone considering selling off his condo in order to pay off all of his student loans. While we have heard of many extreme measures taken to pay off student loans, this one might take the cake. The idea of parting with your home to …
Do Partial Student Loan Payments Help?
Many student loan borrowers find themselves in a difficult situation. They might be able to pay part of their student loan bill, but there are not able to make the full monthly payment. Does a partial payment help? Will lenders be more understanding of the borrowers who make an effort to stay …