If you have great credit and a solid income, you may be able to refinance your federal student loans with a private lender and take advantage of a lower interest rate, longer repayment term, and other benefits. Note, however, that you’ll also lose access to federal loan benefits and re...
The temptation for student loan borrowers to dip into their retirement funds for loan repayment is understandable. The idea of using 401(k) or IRA savings to reduce immediate student debt burdens can be appealing, considering retirement seems distant while student loans demand immediate attention. Ho...
Explore employer programs.Ask your employer if they have any type of loan repayment assistance. In this market, unless you have unique skills, that’s generally not going to be a likely option at this time. However, as you build your skills and value to an employer, this could help you ...
What to Know About Federal Student Loan Repayment Options. If your claim relates to federal loans taken out prior to 2011, they may not be eligible if they are part of the federalPerkins loanprogram or the Federal Family Education Loan Program. However, if you cons...
What Happens If I Ignore My Student Loans?doi:urn:uuid:b4edaa3b6e186410VgnVCM100000d7c1a8c0RCRDIf student loan repayment seems all but impossible, it can be tempting to just pretend those loans don't exist. Here's what will happen if you do....
To make debt repayment a priority, I cut back on my trips cross-country and did not plan for any international travel until my debt was gone. Of course I had the desire to travel, but my goal for the next 12 months was to pay off my debt, the time (and money) to travel would ...
In terms of timing, refinancing earlier in your loan repayment term typically makes more sense than waiting until later. Like other loans, private student loans are structured in a way that you're paying more in interest in the early part of the loan term, with more money going toward the...
We also made payments towards my wife’s student loan debt, but again only the minimum required payment under the standard ten-year repayment plan. Her loans went into deferment when she started grad school, and we also took out loans when she was in grad school. ...
We also made payments towards my wife’s student loan debt, but again only the minimum required payment under the standard ten-year repayment plan. Her loans went into deferment when she started grad school, and we also took out loans when she was in grad school. ...
That’s why I chose to enter an income-based repayment plan, giving my student loan servicer access to my IRS tax data every year. Now, I have a much lower payment obligation, so that during months when money is a bit tighter, I can still make my payment and keep my credit in good...