Term: student loan repayment
24 found

Help! I’m Unemployed & Drowning in Student Loan Debt

By Steven Shaw on 8/19/2013

student loan debt

It’s not uncommon for college graduates to walk across the stage not knowing what awaits them on the other side. The current economic crisis has created an extremely competitive job market, leaving recent college graduates with limited options.

college students
student debt
student loan repayment
student loans
students

Obama Signs Student Loan Bill: What It Means for Borrowers

By Steven Shaw on 8/12/2013

student loan bill

Regardless of their majors, students may want to brush up on Economics 101.

That’s because President Barack Obama signed H.R. 1911: Bipartisan Student Loan Certainty Act of 2013 — the student loan bill — into law this afternoon. It ties government-backed student-loan interest rates to the 10-year Treasury note, meaning the country’s economic health impacts borrowing rates.

college students
student debt
student loan repayment
student loans
student loans
students

When a Student Debt Fix Makes a Bigger Mess

By Steven Shaw on 7/12/2013

When a Student Debt Fix Makes a Bigger Mess

If the road to hell is paved with good intentions, the Oregon Legislative Assembly put the pedal to the metal when it approved House Bill 3472.

student debt
student loan repayment
student loans
students

Help! I’m Afraid to Lower My Student Loan Payments

By Steven Shaw on 7/9/2013

lower student loan payments

If you are having trouble paying your federal student loans, you may be eligible for programs that will get you lower student loan payments. Under the Income-Based Repayment program (IBR) or Pay As You Earn (PAYE) programs your payments can be as little as $0 per month if you are unemployed.

But not all borrowers are eager to lower their payments. Take our reader “Liz,” for example. She writes:

college students
student debt
student loan repayment
student loans
students

It’s Official: Student Loan Rates Will Double Monday

By Steven Shaw on 6/30/2013

Student Loan Rates Set to Double

More than 7 million students will see interest rates on their student loans double from 3.4 to 6.8 percent on Monday, after the failure of Congress to pass legislation to prevent the automatic rate hike that they successfully deferred for a year last summer.

student debt
student loan repayment
student loans
students

How to Stop a Neverending Student Loan Nightmare

By Steven Shaw on 6/17/2013

student loan nightmare

Last month, the U.S. Department of Education’s Office of the Inspector General lobbed a grenade at the federal student aid program.

In a harshly critical memorandum to the Federal Student Aid’s Chief Operating Officer, the assistant inspector general condemned the agency’s repeated failure to validate the accuracy of certain subcontractor invoices before authorizing payment.

student debt
student loan repayment
student loans
students

How Student Loans Can Keep You From Buying a Home

By Steven Shaw on 5/3/2013

How Student Loans Can Keep You From Buying a Home

As student loans take on an increasing presence among the 20-something generation of college graduates who have traditionally made up a high proportion of first-time homebuyers, the impact of student loan debt on a mortgage application becomes increasingly important — especially as about two-thirds of college seniors who graduated in 2011 had student loan debt averaging $26,600.

Mortgage
student debt
student loan repayment
student loans

This Week in Credit News: Avoiding Financial Pitfalls

By Steven Shaw on 4/26/2013

Credit News

The biggest news this week is all about the traps and pitfalls awaiting consumers when it comes to student loans, identity theft and payday loans.

4 Ways to Deal With Student Loan Debt Collectors

Student debt expert Mitchell Weiss has received a lot of requests from readers who are struggling to work with student loan collection companies in finding a way to pay down their balances.

In this article, Weiss explains that the collection companies hired by student loan originators are more apt to put borrowers into loan “fixes” that actually can hurt the borrower in the long run. He warns consumers to make sure they don’t sign up for a loan modification that allows the loan to become negatively amortized, thus adding to the balance of the loan in the long run, while lowering payments in the short term.

identity fraud
identity theft
Payday loans
student debt
student loan repayment
student loans

Student Loan Debt Keeping Millennials From Home, Car Loans

By Steven Shaw on 4/19/2013

CFPB Takes Aim at Discriminatory Auto Lending

In recent years many studies have shown just how burdensome student loan balances have become for millions of borrowers across the country, but new data shows they are likely also playing a role in those consumers’ ability or desire to take on other types of debt. That trend could have a serious negative impact on both the housing and the auto markets.

Millions of young Americans may now be actively trying to avoid applying for mortgages and auto loans as a result of the massive amount of student financing they have taken on, according to new research from the Federal Reserve Bank of New York. The percentage of 25-year-olds with outstanding student loan debt has grown to 43% through the end of 2012, up from just 25% nine years earlier. And at the same time, the average amount of debt held on those balances climbed to $20,326, an increase of 91% from 2003′s $10,649.

Debt
millennials
student debt
student loan repayment
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3 Ways Student Loan Debt Can Wreck Your Retirement

By Steven Shaw on 4/9/2013

3 Ways Student Loan Debt Can Wreck Your Retirement

It’s tough enough to deal with student loan debt you can’t pay when you’re a 20-something, but imagine dealing with it when you’re in your 60s or 70s. “This population often gets ignored because people hear the words ‘student loans’ and they think 20-year-olds,” says Persis Yu, a staff attorney with the National Consumer Law Center.

It’s a big — and growing  — problem. Americans age 60 and older owe roughly $43 billion in student loan debt and more than 10% are 90 days or more delinquent.

There are some unique challenges that older Americans, many of whom are partially or fully retired, face.

Debt
managing debt
retirement
student debt
student loan repayment
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