Term: students
25 found

How Much Student Loan Debt Is Too Much? Here’s a Formula to Figure it Out

By Steven Shaw on 5/6/2016

math_formula

Much has been made of the student loan problem. While you’d be hard pressed to find disagreement that it’s an issue, there is plenty of disagreement about how bad things really are. On the one hand, it’s easy to find stories chronicling massive default rates (12%), oppressive $800-a-month loan payments and the big one: total outstanding student loan debt now dwarfs total credit card debt.

college students
college tuition
student debt
Student Loan
Student loan debt
student loans
students

5 Things New Grads Wish Their Parents Had Taught Them About Money

By Steven Shaw on 6/23/2015

5 Things New Grads Wish Their Parents Had Taught Them About Money

One of the hardest things about letting a newly licensed driver leave the house in your car is this: They don’t know what they don’t know (but if you taught them to drive, you may have some ideas). They will learn, perhaps the hard way, and you won’t be there to offer warnings and commentary.

Grads
Graduates
Money:
students

Money 101: How to Get Your Credit Ready for College

By Steven Shaw on 6/18/2015

Money 101: How to Get Your Credit Ready for College

For many students, the beginning of your college career is also the beginning of your transition to adulthood. You will likely have more freedom — and responsibility — than you have ever had before. One of the most important aspects to being an adult is planning ahead and living with intention, especially when it comes to your finances and building credit. As a credit coach, I’ve assembled the top five tips to help you start to build healthy credit and begin your life as a responsible adult.

build credit
College
college students
establish credit
Money 101
students

Will Student Loan Forgiveness Hurt My Credit?

By Steven Shaw on 5/15/2015

student loan forgiveness

Last month, we heard from a reader who has been approved for student loan forgiveness but fears accepting it would damage the good credit he has worked hard to attain. He had tried to get answers but felt frustrated that he couldn’t seem to find out exactly how student loan forgiveness would be reported to the credit bureaus.

college graduate
student loan forgiveness
student loans
students

Will Student Loan Rehab Fix Your Credit?

By Steven Shaw on 9/5/2014

The Truth About Student Loan Rehabilitation and Credit Reports

When Lionel Alexander rehabilitated his federal student loan he thought his credit would get back on track. After all, that’s one of the promises of federal student loan rehabilitation: that the default will be removed from the borrower’s credit reports.

credit score
student debt
student loan repayment
student loans
students

Why Income-Based Repayment Isn’t the Only Student Loan Solution

By Steven Shaw on 6/19/2014

Why Income-Based Repayment Isn't the Best Student Loan Solution 

An op-ed piece published in the New York Times this past weekend really got me going.

The writer, an economics professor at the University of Michigan, makes what appears to be a very logical case for instituting a government-sponsored student-loan repayment plan that is exclusively income-based — where installment amounts are linked to paychecks the same way withholding taxes are configured.

student debt
student loan repayment
student loans
students

What Happens If I Ignore My Student Loans?

By Steven Shaw on 6/5/2014

student loan repayment 

By some estimates, nearly one in three student loan borrowers in repayment are behind on their payments. Some of those borrowers may be paying as much as they can, when they can, but others may feel their debt is hopeless and are taking the ostrich approach instead.

college graduate
college students
college tuition
student debt
student loan repayment
student loans
students

College Students: Are You Making These 9 Money Mistakes?

By Steven Shaw on 1/19/2014

money mistakes 

When you were packing up to leave for college, how many times did financial management cross your mind? Let me guess; probably not many. More than likely, you were too busy listening to all the voices in your ears telling you to be safe, stay away from trouble and to study hard.

borrowing
credit cards
hidden fees
minimum payment
spending
students

10 Ways to Fix Student Loans in 2014

By Steven Shaw on 1/14/2014

10 Ways to Fix Student Loans in 2014 

If you thought the politics behind the student loan pricing debate were contemptible, just wait until Congress takes up the reauthorization of the Higher Education Act this year.

For nearly a half century, the HEA has been responsible for a variety of financial assistance programs for students and educational institutions. Title IV is arguably the best known facet of the act. It governs Pell and Supplemental Education Opportunity grants, the Federal Work Study program, Perkins Loans, Direct Subsidized and Unsubsidized Stafford Loans and Direct PLUS Loans. (The FFEL program was discontinued in 2010.)

Federal Work Study
Direct PLUS Loans
Pell Grant
Perkins Loans
student debt
student loan repayment
student loans
students
Supplemental Education Opportunity
Unsubsidized Stafford Loans

How to Get a Credit Card If You Are a Student

By Steven Shaw on 12/5/2013

how to get a credit card if you are a student

Wanting or needing credit isn’t always as simple as filling out an application. Even college students, who have a lot of financial services marketed to them, may face obstacles when trying to get a credit card.

Why? A lot of it comes down to their credit history — or lack thereof. The length of your credit history has an impact on your credit scores — the longer your history of responsible credit usage, the better. Many 18-year-olds heading to college don’t have any credit history, which makes them an unknown to many lenders who may not be as willing to approve them for a credit card.

CARD Act
CARD Act of 2009
college students
Credit Card
student credit cards
students