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  • +7

    What are the Downsides and Upsides to Unsubsidized Federal Student Loans?

    As a guidance counselor, I have many families asking me if there's any downside to taking out a federal unsubsidized loan. They need loan money either way and the rates for the private loans are much higher than the government loans. Most advice sites and articles are very general in nature. Can you provide any specifics on what would be the ...
    Published over 3 years ago | Rated: +7
  • +7

    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 likely to head higher, borrowers prefer fixed-rate options. A little over a year ago only one commercial lender, SunTrust, offered a fixed-rate option on its loans. Today there are eight, ...
    Published about 3 years ago | Rated: +7
  • +3

    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 of a mortgage they have access to at 3.5%, provided that I am able to pay it off in 3 years. Given my current job situation, I can handle the ...
    Published almost 3 years ago | Rated: +3
  • +5

    Does a Parent's Credit History Affect the Student's Eligibility for Loans and Other Aid?

    My parents have a Federal Direct PLUS Loan they got while I was an undergraduate student several years ago. Due to their current financial hardship, they haven't been keeping up with the payments. I also had some college loans which I am paying regularly without problems. I would like to know if my parents' financial situation will impact my credit, since ...
    Published about 4 years ago | Rated: +5
  • +18

    Debt Worriers

    Debt Worriers
    At this point, it’s old news that student loan rates have doubled. It’s also nothing new to hear that student debt is higher than ever, surpassing $1 trillion. Student loan debt inflicts one out of five Americans over the age of 20; two out of three college seniors (2011). The average amount is nearly $27,000 – not a small amount by ...
    Published about 2 years ago | Rated: +18
  • +4

    Student Debt Guide: Budgeting and Credit Cards

    Student Debt Guide: Budgeting and Credit Cards
    By now, we’re all aware that managing money can be quite difficult. Here are some surefire ways, straight from nationally recognized financial expert Mark Kantrowitz, on how to help stay on track when it comes to pinching pennies. [gate] First, exercise control over your money by increasing awareness of your spending habits. Start by preparing a descriptive budget, where you track ...
    Published over 2 years ago | Rated: +4
  • +4

    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 the current economic environment? — Alan S. When considering how to finance a college education, there are many options, including federal education loans, private student loans and non-education loans. It ...
    Published over 2 years ago | Rated: +4
  • +6

    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 Unfortunately, about a third of borrowers are late with the first payment on their federal student loans. This is called a delinquency. There are a variety of reasons why students ...
    Published almost 4 years ago | Rated: +6
  • +5

    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 suggestions? — Joanna P. When comparing student loans, consider both the cost of the loan and the other benefits of the loan program. The cost of a loan is based ...
    Published about 3 years ago | Rated: +5
  • +5

    Should Students and Parents Who are Close to Retirement Borrow to Pay for College?

    I am 47 and recently divorced single parent of two children, ages 7 and 8. I spent the last 9 years as a stay-at-home parent. As a result of the divorce, I am re-entering the job market. My last position, as a training and development specialist for a bank, earned roughly $45,000. It has been somewhat difficult obtaining full-time employment and ...
    Published over 3 years ago | Rated: +5
  • +6

    Facing the Prospect of High Student Loan Debt at a Prestigious College

    I graduated from high school with honors in June and have been accepted to a prestigious private college, where I will be majoring in computer science and math. The college awarded me $31,000 in grants and scholarships, but I still need to come up with $20,000. I applied for a student loan with each of my parents and was declined, both ...
    Published about 4 years ago | Rated: +6
  • +6

    Consumer Bankruptcy Attorneys Call for Return of Bankruptcy Discharge for Student Loans

    The National Association of Consumer Bankruptcy Attorneys (NACBA) held a press conference on Tuesday, February 7, 2012 during which they called on Congress to allow federal and private student loans to be discharged in bankruptcy, to restore a reasonable statute of limitations on student loan collections and to improve oversight of private collection agencies. NACBA also released the results of a ...
    Published over 3 years ago | Rated: +6
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