Refinancing high interest rate debt to a lower interest rate can be a great way to save money. While this strategy can make a lot of sense, there are some risks. Before signing on the dotted line, make sure you consider those risks carefully. Student Loans The student loan market has experienced [...]
Chances are, you know some college graduates with student loan debt. Perhaps you're one of them. It's always better to be the lender than it is to be the borrower, and this has never been more true than when it comes to student loans. Many types of student loans simply don't go away until they're paid. Show More Summary
Earlier this month, Discover Bank and affiliates was ordered to refund $16 million dollars to customers and fined $2.5 million dollars by the Consumer Financial Protection Bureau (CFPB), a federal agency dedicated to protecting consumers. The reasons for the ruling was illegal private student loan servicing practices ranging from misprints on [...]
We tasked a CFP® and a student loan pro with debating when to plump up your nest egg or crack into that college debt.
A reader contacted me to share his story of dealing with his unmanageable student loans through bankruptcy. Just recently I've written two articles that showed how people have fought the battle against their student loan companies and the bankruptcy court agreed to eliminate their debt. Show More Summary
There has been a significant increase in the number of lenders in the student loan refinancing market since 2012, spurring growth in product innovation. This article outlines several of these important innovations by student loan lenders that could help you better manage your student loan repayments, including differentiated repayment periods, [...]
There are more than a million people at least nine months behind on their student loan payments. They face the threat of the government withholding money from their paychecks, social security or tax refund. They may have a hard time getting a mortgage, buying a car or even a job. But the colleges that encouraged them to […]
My son graduated from Seattle University a few months ago and has recently landed his first “real job” in the tech world. I couldn’t be more proud of him! Many first time home buyers, who have gone to college may be surprised to learn how student loans may impact how much mortgage they qualify for. […]
A combined strategy of a tuition cap and a student loan borrowing limit will help stem the rise of tuition costs over time.
Michael Simkovic (Seton Hall), Student Loan Marriage Penalty: How should marriage affect legal determinations of ability to pay, and therefore obligation to pay? These are questions that tax scholars have long debated. Similar issues are now being debated in higher education circles because of the growth of income-based student loan...
Student debt follows some elderly Americans to the grave. It will not be news to 41 million Americans that this nation is in the middle of a student debt crisis. That's the number of people burdened by student loan payments. But many...Show More Summary
When a young person dies unexpectedly, his or her family could end up with the burden of paying off student loans. Can that be avoided?
PHILADELPHIA (AP) — U.S. Rep. Chaka Fattah paid off an illegal $1 million campaign loan with federal grants and charitable donations, funneled campaign funds toward his son's student loans and disguised a lobbyist's bribe as paymentShow More Summary
Rep. Chaka Fattah paid off a campaign loan with charitable donations and federal grants, funneled campaign money to pay down his son's student loan debt, and disguised a lobbyist's bribe as payment for a car he never sold, prosecutors said today in announcing a racketeering indictment against the congressman. The...
The peddlers who once preyed on underwater mortgage holders are now going after a new set of victims: those sinking under student loans. Want to know which sites to avoid? Here’s a look at the ten student debt relief outfits being sued by state and federal agencies:
Student loan debt is a serious problem here in the US as the price of higher education continues to outpace every standard economic yard stick. Lots of people think the government should step in to do something about it. While the administration...Show More Summary
Today I'm looking at another bankruptcy discharge case, see more here, where a bankruptcy judge felt it was appropriate to allow for a legal discharge of student loan debt. In this case the consumer represented herself in the action and has fought a valiant battle. Show More Summary
It will not be news to 41 million Americans that this nation is in the middle of a student debt crisis. That's the number of people burdened by student loan payments. But many people, including many student debt holders, may be surprised to learn that people can be pursued for student debt even into their elder years. Show More Summary
In 2007, Congress created the Public Service Loan Forgiveness (PSLF) program. The program is intended to remove the student loan debt of low-salaried public service employees after 10 years. (There is also a similar program for teachers of low-income students, called Teacher Loan Forgiveness.) To qualify for PSLF's public service requirement, [...]
What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question. 1. Facing huge student loan burden 2. Selling my house 3. Pantry organization 4. Show More Summary