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How Does a Pending Foreclosure or Short Sale Affect Financial Aid?

How Does a Pending Foreclosure or Short Sale Affect Financial Aid?

How do we answer the question "Do you own your home" on financial aid forms when we are in pre-foreclosure? We are not yet in active foreclosure, but are several years ...

Mark Kantrowitz
Published January 28, 2013
People Retiring with Student Loans May Save Money with Income-Based Repayment

People Retiring with Student Loans May Save Money with Income-Based Repayment

I'm 68 years old, have worked for the last thirteen years in a state psychiatric hospital and after consolidating all my loans, have never missed a payment to Direct Student Loan ...

Mark Kantrowitz
Published November 21, 2011
Does Consolidating Student Loans Save Money Like a Refinance?

Does Consolidating Student Loans Save Money Like a Refinance?

I have a question concerning consolidating my federal loans. I have some that are subsidized and some that are unsubsidized. Can I combine these at a lower interest rate? I have ...

Mark Kantrowitz
Published May 16, 2011
Should Borrowers Pay Off Old Student Loans to Qualify for the New 10% Version of Income-Based Repayment?

Should Borrowers Pay Off Old Student Loans to Qualify for the New 10% Version of Income-Based Repayment?

I want to qualify for the "pay as you earn plan" 10% income-based repayment plan. I have $80,000 in Direct Loans from 2010-2012. I have a balance of $2,800 on an ...

Mark Kantrowitz
Published December 5, 2011
Should Parents Pay Off Credit Cards Before Applying for College Loans and Other Aid?

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 ...

Mark Kantrowitz
Published May 30, 2011
How Does Bankruptcy Affect Eligibility for Student Financial Aid?

How Does Bankruptcy Affect Eligibility for Student Financial Aid?

How does a chapter 13 bankruptcy affect financial aid? Would it be difficult to get financial aid for my child because my husband and I filed chapter 13 about 2 years ...

Mark Kantrowitz
Published June 6, 2011
Programs and Scholarships to Pay Off Student Loans

Programs and Scholarships to Pay Off Student Loans

Looking for a bailout? Good news! The only catch is you'll have to do some good...

Elizabeth Hoyt
Published March 31, 2016
What are the Downsides to Using Home Equity to Refinance Student Loan Debt?

What are the Downsides to Using Home Equity to Refinance Student Loan Debt?

I have almost $200K in student loan debt at interest rates from 6.5% to 8.5%. My parents are offering to take on $70K of my debt that's at 8.5% by way ...

Mark Kantrowitz
Published October 22, 2012
Should Married Borrowers File Joint or Separate Federal Income Tax Returns with Income-Based Repayment?

Should Married Borrowers File Joint or Separate Federal Income Tax Returns with Income-Based Repayment?

I have a question about a joint consolidation loan and income-based repayment (IBR). My wife and I consolidated our loans jointly about 10 years ago (when such things were allowed). My ...

Mark Kantrowitz
Published October 29, 2012
Choosing a Student Loan: Public vs. Private

Choosing a Student Loan: Public vs. Private

What drives students to choose private loans over federal -- and is it right for you?

By Kathryn Knight Randolph
Published May 1, 2014
Is There a Better Option for Financing a College Education than a Parent PLUS Loan?

Is There a Better Option for Financing a College Education than a Parent PLUS Loan?

I have a simple question: Is there currently a better option to help finance my sophomore daughter's college education than a 7.9% PLUS loan? That just seems a bit high given ...

Mark Kantrowitz
Published November 19, 2012
Crowdfunding for College

Crowdfunding for College

Utilize these resources to repay your student loans or to manage your current financial situation.

Elizabeth Hoyt
Published September 1, 2014
An Early Look at the New Income-Based Repayment Plan

An Early Look at the New Income-Based Repayment Plan

A new version of income-based repayment (IBR) was enacted by the Health Care and Education Reconciliation Act of 2010, but will be effective only for new borrowers on or after July ...

Mark Kantrowitz
Published May 3, 2012
How will a Parent's Financial Troubles Affect the Student's Eligibility for Student Loans?

How will a Parent's Financial Troubles Affect the Student's Eligibility for Student Loans?

My 17-year-old daughter is eager to begin college. We have some difficult financial situations to contend with and could use your advice and direction. Her dad and I are divorced. I ...

Mark Kantrowitz
Published May 7, 2012
Have You Considered Consolidating?

Have You Considered Consolidating?

Keeping track of all your student loans can be confusing - is consolidation the answer?

Elizabeth Hoyt
Published October 15, 2013
Private Student Loans Add Fixed Rate Options

Private Student Loans Add Fixed Rate Options

Student loan pricing goes through cycles. When fixed interest rates are high but variable interest rates are heading downward, borrowers prefer variable interest rates. When variable interest rates are low but ...

Mark Kantrowitz
Published May 21, 2012
Updates to the Total and Permanent Disability Federal Student Loan Discharge Program

Updates to the Total and Permanent Disability Federal Student Loan Discharge Program

Individuals eligible for the TPD Federal Student Loan Discharge program will now be notified via letter.

Elizabeth Hoyt
Published April 22, 2016
Repayment Begins for Students Who Graduated in May and June

Repayment Begins for Students Who Graduated in May and June

Students who graduated in May or June are nearing the end of the six-month grace period. The first monthly loan payment is usually due in November or December. Don't Be Delinquent ...

Mark Kantrowitz
Published October 26, 2011
Trick or Treat: President Obama's Plan for Cutting Federal Student Loan Payments

Trick or Treat: President Obama's Plan for Cutting Federal Student Loan Payments

Income-based Repayment Who: 1.6 million borrowers since 2008 with at least one loan in 2012 or later, generally borrowers whose total federal student loans exceeds their annual income What: Reduces ...

Mark Kantrowitz
Published October 26, 2011
Which Student Loans are the Best Ones to Borrow?

Which Student Loans are the Best Ones to Borrow?

I'm a first year and I'm searching for student loans with my mom and I'm not sure which one is the best one I should take out. Do you have any ...

Mark Kantrowitz
Published June 11, 2012