When I graduated from college, my student loans were approximately $25k. It might not seem like much compared to the national average, however, loan payments can take a large portion of your paycheck each month no matter what the total number is. It’s even worse when you see the principl...
It was a fantastic feeling and something I still think about to this day. Even though I have a success story when it comes to paying off student loans, I know that many others struggle with their student loan debt every single day. The average graduate walks away withmore than $35,000 ...
If you’re facing financial hardship, forbearance and deferment are two ways to temporarily pause your student loan payments. For some people, the respite from monthly payments can help get you back on track. But they come with some trade-offs. Had I understood how they worked ahead of...
Over the course of 9 post-grad years, I prioritized making my loan payments above all else, but I didn’t sacrifice so much that my 20s were miserable. Here’s how it all went down. Taking out student loans In high school, my parents were adamant: If I wanted to attend private ...
Private student loans, on the other hand, are obtained through private lenders, such as banks or credit unions. These loans usually have higher interest rates and fewer repayment options compared to federal loans. When it comes to reducing student loan payments, understanding the terms and conditio...
If we had prepaid for college, it still would have been high, but we would have at least started our careers at zero instead of negative ~$155k. Our minimum student loan payments for both of us was $1,100/month on a fifteen-year repayment track (it went up as we accelerated repayme...
The $2 trillion stimulus package, also known as the Coronavirus Aid, Relief and Economic Security Act (CARES Act), aims to delay federal student loan payments and send a $1,200 relief check to many Americans. It will also allow people to withdraw up to $100,000 from their retirement savi...
For now, it will be a vacation place for us and we’ll rent it out the rest of the year. (After all, mortgage payments are the reality of dreams like this!) We have work, school, and ties to Colorado. Still, maybe, someday…. ...
Understanding Student Loan Cancellation Student loan cancellation, also known as loan forgiveness or discharge, is a process that allows borrowers to eliminate their obligation to repay their student loan. This can provide much-needed relief for individuals who are struggling with their loan payments or...
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