IF YOU’RE FEELING OVERWHELMED BY STUDENT LOANS, TAKE A MOMENT TO READ THESE FINANCIAL STRATEGIES FROM BECKY PARTRIDGE.
Achieving Travel Goals While Having Student Loans
We love to help people achieve their goals, so if you feel held back by your student loans there are likely options available to help reduce your stress. Giving you greater financial freedom to achieve your life goals, such as traveling.
Money Education to Impact College Borrowing
This month our focus has been on financial education, which is something that it is never too early to begin teaching. While it may not seem that general financial education for children would have much of an impact on student loans it very well can.
We all know the saying “time flies,” so it’s important to teach financial habits to kids from a young age because before you know it they will be making decisions about college. We love being able to help students borrow the least amount of money as possible for college. Here are some ways to begin teaching your children about money so that they have the education and potentially some savings for when they go off to colle
Graduation and Student Loans
We all know how overwhelming student loans are, but the good news is that they don't have to be! There is a student loan strategy for everyone and the earlier you are aware of the best strategy for you the better.
Understanding Your Student Loans
College Graduation is quickly approaching and many students are likely beginning to wonder what is going to happen with their student loans.
When we talk about student loans they can be broken down into the most common overall types, federal loans and private loans. While both are loans there are many differences between federal and private student loans and it’s important to know what you have.
CARES Act - What It Means For Your Student Loans
Federal Student Loan Temporary Interest Waiver
President Trump has proposed a temporary waiver of federal student loan interest during the Coronavirus pandemic. So what does this mean for you, the borrowers?
Nourishing Your Relationship with Student Loans
February is a great time for nourishing your relationships and growing your financial emotions. As overwhelming of a conversation this may be, it’s important to have an open and honest discussion with your significant other about student loan debt, as well as with any other debt you may have.
Financial Check Up - Student Loan Edition
January is a good month to give yourself a financial check up, and that includes looking into your student loans. This should be done on an annual basis to make sure you are on the most appropriate course of repayment.
Read on to find the top three reasons to review your student loans annually.
Student Loans and Bankruptcy
You may have heard that student loans cannot be discharged in bankruptcy, but……
In order to potentially have your federal student loans discharged as a result of bankruptcy you have to file a separate action, called an adversary proceeding. When you file the adversary proceeding you are asking to have the court determine that repaying your student loans will cause you undue hardship.
Student Loan Discharge - Total and Permanent Disability
Did you know that federal student loans can be discharged if you have a total and permanent disability? Loans that are eligible for this discharge include Direct Loans, FFEL Loans, and Perkins Loans.
So how do you go about this discharge process? In order to have your federal student loans discharged you will need to complete and submit a TPD (Total and Permanent Disability) application with documentation (from the VA, Social Security Administration or a physician) proving that you’re considered totally and permanently disabled. This application can be submitted Nelnet as they are the loan servicer that processes TPD discharges. If you apply for TPD and are approved for it you should know that there can be a post-discharge monitoring period during which you will need to meet certain requirements or your loans will be reinstated. In some cases the discharged balance of your student loan may be considered income for both state and federal tax purposes
Federal Perkins Loan - Cancellation or Discharge
Do you have a Federal Perkins student loan or know someone who does? If you do, you might be eligible for Federal Perkins Loan cancellation or discharge.
Student Loans - Teachers Loan Forgiveness
If you’re a teacher who has federal student loans or if you know a teacher who has federal student loans this blog is for you because we are going to touch on Teacher Loan Forgiveness.
Student Loans - Full Deferment Repayment
Student Loans - Partial Interest Repayment Option
Last week we touched on the interest only repayment option for private student loans. This week we are going to touch on the partial interest repayment option.
Student Loans - Interest Only Repayment Option
Last week we touched on the immediate repayment option for private student loans. This week we are going to touch on the interest only repayment option.
Student Loans - Private Loan Repayment Plans: Part 1
Over the past eight weeks we have touched on the basics of each of the federal student loan repayment options. For those of you with private student loans there are different repayment plans available to you and they vary based on your loan provider.
Student Loans - Income-Sensitive Repayment Plan
Last week we touched on the basics of the Extended Repayment Plan. This week we are going to cover the basics of the Income-Sensitive Repayment Plan.
Student Loans - Extended Repayment Plan
The extended repayment plan is for eligible federal student loans and has a 25 year maximum repayment period. This plan allows for your student loan payments to be either fixed or graduated as long as the loan will be paid off within 25 years.
Student Loans - Graduated Repayment Plan
The graduated repayment plan has a 10 year repayment period unless you have a consolidated loan in which case you could have between 10 and 30 years for repayment. By Financial Planner Becky Eason
Student Loans - Income - Contingent Repayment Plan (ICR)
Last week we touched on the basics of the Income-Based Repayment Plan (IBR). This week we are going to be touching on the basics of the Income - Contingent Repayment Plan (ICR).