Find out more at StudentEd.gov. 2. Federal Loan Cancellation If you’ve taken out a Federal Perkins Loan, one of the most widely-student loan programs, you may be able to qualify for Perkins Loan cancellation. (Federal Perkins Loans account for $6.1 billion in loans and are used by two...
While the forgiveness of Federal Stafford Loans is limited to teachers, theforgiveness of Federal Perkins Loansis more expansive, and broadly includes educators. Perkins Loans can be 100% forgiven if you elect to become a school librarian, an employee at a child or family-centered agency, a sta...
and it can get pretty nerve-wracking if you don’t know where to start. Student loans are a growing crisis in the world as American alone owe an incredible $1.5 trillion dollars in debt, which is much more than credit card or auto loans. According ...
Anyone with student loans receives lots of offers in the mail from lenders seeking to consolidate your student loans. If you do consolidate you loans, do so wisely. You’ll have to keep your private loans and federal loans separate; you can’t consolidate those two groups of loans. But be...
Paying off student loans can seem overwhelming, but with these 5 simple strategies, you can begin to focus on your other financial goals. Learn how to pay off student loans fast.
Student Loan Solution:5 Steps to Take Control of your Student Loans and Financial Life Get the Book on Amazon 5) Earn More Money What if you could throw an extra $100 a month towards your student loans. What about $500? $1,000? How much faster do you think you could get them paid...
Student loan refinancing is another excellent way to get a lower interest rate on your student loans. When you refinance your student loans, a new lender pays off some or all of your old student loans in full. The borrower then agrees to repay the new lender according to new terms. The ...
Although student loans are typically paid monthly, you can opt to pay biweekly instead. With this strategy, you make half your monthly payment every two weeks. This results in 26 half-payments over the course of the year or equivalent to 13 full payments instead of 12. That extra payment ...
Claim student loans on your taxes. You can deduct student-loan interest of up to $2,500 per year. And if you are out of school and make less than $60,000, you can file the interest you paid on your taxes. Next:Sign up for auto-pay. 6/9 Credit Sign up for auto-pay. Some len...
How Much Student Debt Do Americans Have? Student debt in America has grown to a record of over $1.7 trillion as of 2022, with over $1.6 trillion of that being in federal loans distributed across 43.6 million borrowers. This comes to an average balance of over $37,700 for federal loans ...