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  • +9

    Defaulting on Student Loans

    Missing payments on your student loan has serious consequences. If you're making monthly payments and you're 270 days delinquent, or 330 days delinquent if you pay less often than monthly, then you are in default. Your Borrowing Responsibilities It's important to read the fine print when you borrow money for school. Unless you're granted loan deferment, forbearance or forgiveness, you must ...
    Published almost 7 years ago | Rated: +9
  • +9

    How to Pay for Grad School

    How to Pay for Grad School
    Earning a graduate degree can be a smart idea, but how do you find the funding to pay for an expensive advanced degree? There are ways to earn a graduate degree without ending up with a lot of debt. Figure Out How Much Money You'll Need First, figure out the expenses associated with getting a degree. Don't just focus on tuition ...
    Published almost 7 years ago | Rated: +9
  • +7

    The Procrastinator's Guide to Financial Aid

    The Procrastinator's Guide to Financial Aid
    When it comes to financial aid, late is often too late. Funds for next year are already allotted, and your school simply has nothing more to give. But don't give up until you consider these options: Step 1: Check out your school's Web site. Many sites provide information about the school's late applicant policies, additional suggestions for late applicants and links ...
    Published 2 months ago | Rated: +7
  • +12

    To Cosign or Not To Cosign, That is the Question

    My nephew has asked me to cosign a private student loan for college. He's on his own since he lives independently from his mother, his parents are divorced, and his father is completely out of the picture. He's made it through 2 years of college with great success. I'd like to help him. I have very good credit. What would be ...
    Published about 5 years ago | Rated: +12
  • +9

    Questions about Maintaining and Regaining Eligibility for Federal Education Loans

    I have a sophomore in college right now and will have another child starting her freshman year in college next year. We were approved for a Stafford Loan and a Parent PLUS loan for our son this year. We will need to have student loans to finance the entire amount of both kids' education. Will we be able to continue to ...
    Published over 5 years ago | Rated: +9
  • +10

    Five Surprising Financial Aid Facts

    Think you know financial aid? These five facts might surprise you. 1. Most students receive financial aid. If you’re not going to bother applying for scholarships because you think no one ever wins, you’re wrong. Two-thirds of full-time undergraduate students receive financial aid in the form of grants or scholarships, according to the College Board. The cost of college is rising, ...
    Published almost 7 years ago | Rated: +10
  • +13

    How the Average Joe Can Pay for School

    How the Average Joe Can Pay for School
    As the cost of college is increasingly on the rise, many average, every day families are wondering how they’re going to pay the bill. Unfortunately, most families can only pay for some of the costs up front. And that means student loans become a requirement. According to The Institute for College Access and Success, nearly 70% of college students graduated with ...
    Published about 1 month ago | Rated: +13
  • +13

    Secrets to Settling Defaulted Federal Student Loan Debts for Less than What You Owe

    Your federal student loans are in default and collection agencies are calling you dozens of times a day. They are threatening to garnish your wages, offset your income tax refunds and ruin your credit. They may even have crossed the line into harassment, calling you a worthless person and threatening you with physical harm. Are there any ways of getting out ...
    Published about 5 years ago | Rated: +13
  • +7

    Ask the Expert: Why Not Borrow from My 401(k) for My Daughter's College Tuition?

    QUESTION: Why not borrow from my 401(k) for my daughter's college tuition, as there will be less to lose in this economic crisis? -- Betsy Thomas ANSWER: Borrowing from your 401(k) is almost always a big mistake. It may seem innocuous, since instead of paying back a bank loan, you're paying yourself. But you've lost the opportunity to earn further returns ...
    Published over 6 years ago | Rated: +7
  • +5

    Tax Breaks for Student Loans

    Tax Breaks for Student Loans
    Good news! The interest you pay on your student loan might let you pay less on your taxes. Thanks to the Taxpayer Relief Act of 1997, tax time will be a little better for you and other student borrowers. How It Works Depending on your specific loan situation, you may be eligible to deduct some of the interest you pay on ...
    Published almost 8 years ago | Rated: +5
  • +8

    Choosing an Education Loan

    Choosing an Education Loan
    Most families evaluate education loans based mainly on cash flow considerations: • How much money can you get to pay for college costs and/or living expenses? • How much are the monthly payments? • When do the payments start and when do they end? • What is the total cost of the loan (total payments over the life of the loan)? ...
    Published over 5 years ago | Rated: +8
  • +13

    Options for a Family Denied Education Loans Due to Insufficient Income

    My daughter received some financial aid for her freshman year of college but we still had to take out a sizable loan for the rest. She applied for a loan her sophomore year and was denied because we have "insufficient income" to repay the debt. My husband is self-employed as a landscaper and it was a bad year. She was attending ...
    Published almost 5 years ago | Rated: +13
  • +250

    Would Forgiving Student Loans Stimulate the Economy?

    Would Forgiving Student Loans Stimulate the Economy?
    Several grass-roots groups were established on Facebook in early 2009 calling for the cancellation of all student loan debt under the theory that this will stimulate the economy. Most noteworthy is the group Cancel Student Loan Debt to Stimulate the Economy (see also www.forgivestudentloandebt.com) founded by Robert Applebaum, a New York attorney. This group has grown to have more than 220,000 ...
    Published almost 6 years ago | Rated: +250
  • +7

    Albany City Council Passes Loan Forgiveness Resolution

    Albany City Council Passes Loan Forgiveness Resolution
    The Albany Common Council passed a non-binding resolution urging Congress to "consider forgiving student loans" on Monday, August 17, 2009 by a vote of 12 to 0. The city council's resolution was inspired by similar calls for forgiveness by several Facebook groups. Resolution #43.42.09R was proposed by Jim Sano, chair of the city council's Finance Committee. It urges Congress to forgive ...
    Published almost 6 years ago | Rated: +7
  • +5

    Questions about the Health Care and Education Reconciliation Act of 2010

    If you have already graduated from college, will you be affected by the new changes to student loans in the health care bill? — Lauren A. No. None of the changes enacted by the Health Care and Education Reconciliation Act of 2010 will affect students who have already graduated. Starting July 1, 2010, all new federal education loans will be made ...
    Published over 5 years ago | Rated: +5
  • +3

    Education Lender Agrees to Pay Borrowers $9.75 Million in Class-Action Lawsuit Settlement

    Education Lender Agrees to Pay Borrowers $9.75 Million in Class-Action Lawsuit Settlement
    If you borrowed federal student loans from NorthStar Education Finance, you may get a small refund as part of a class action settlement concerning NorthStar Education Finance's suspension of its T.H.E. Repayment Bonus loan discount program. As a non-profit education lender, NorthStar Education Finance had one of the best loan discount programs, which provided a 1% interest rate reduction for undergraduate ...
    Published over 5 years ago | Rated: +3
  • +28

    Congress Proposes Allowing Private Student Loans to be Discharged in Bankruptcy

    Congress Proposes Allowing Private Student Loans to be Discharged in Bankruptcy
    Congress is proposing to allow borrowers to discharge private student loans in bankruptcy. Under current law, education loans are not dischargeable in bankruptcy except in extreme circumstances. The US Bankruptcy Code at 11 USC 523(a)(8) requires borrowers who want to get a bankruptcy discharge for their student loans to demonstrate in an adversary proceeding that repaying their student loans "would impose ...
    Published over 5 years ago | Rated: +28
  • +11

    How to Choose the Best Education Loans

    How to Choose the Best Education Loans
    With the new Obama tuition plan do you now have to go through FAFSA to get a loan? Is it better to take a loan out in my child’s name or take a parent PLUS loan? — Michelle A. All federal education loans are now made through the Direct Loan program. This includes federal student loans, such as the subsidized and ...
    Published about 5 years ago | Rated: +11
  • +2

    Do Outstanding Loans Affect Eligibility for Financial Aid?

    How do outstanding loans affect future financial aid awards for my children? Is there any advantage to trying to pay them back early (other than less interest)? Are they counted towards my outstanding debt thereby potentially increasing my aid package? — Linda H. Most forms of consumer debt, including auto loans and credit card debt, are ignored by the Free Application ...
    Published about 5 years ago | Rated: +2
  • +5

    Should Parents Pay Off Credit Cards Before Applying for College Loans and Other Aid?

    Why is it better for parents to pay off credit cards (if one can) before obtaining loans for a child for college? — Diane H. Most forms of consumer debt, such as credit cards and auto loans, are ignored on the Free Application for Federal Student Aid (FAFSA). Even education loans are ignored. The only exception to this rule occurs when ...
    Published about 4 years ago | Rated: +5
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