Student Loan Refinancing vs Income Driven Repayment

Introduction

Deciding whether to refinance your student loans or sign up for an income-driven repayment plan can be a big decision. Refinancing can get you a lower interest rate, which translates into fewer payments over time. On the other hand, income-driven repayment plans allow you to pay less on your loans every month but will require you to pay more in the long run. I’ve created this guide to help you research and decide which option is best for you.

How Much Student Debt is Too Much?

Introduction

College students want to know how much student debt is too much. That’s because we’ve all heard the horror stories of people graduating with six-figure debts, or even more. The good news is that most people won’t reach that level of debt. The average college student graduates with $30,000 in debt, according to the Institute for College Access and Success (TICAS). But what about people who graduate from Ivy League colleges? Or law school? Or medical school? We’ll cover those questions and more in this post—after all, we’re not just here to talk about averages; we’re here to make sure you can pay off your student loans without eating ramen for the rest of your life.

Do Student Loans Affect Your Credit Score

Introduction

You know that saying, “You have to spend money to make money?” Well, the same is true with student loans. To be clear, we’re not saying you should take out more than you need. After all, as of 2018, it’s estimated that Americans collectively owe 1.6 trillion dollars in student loan debt—and the average borrower owes over $30,000. So it’s important to only borrow what you need and no more! But just because you have student loan debt doesn’t mean this will always negatively impact your credit score. In fact, for those who’ve never borrowed before (for example: if you don’t have a car or house), taking out a student loan means building up a track record of responsibly repaying your debts—an important factor that can contribute to increasing your credit score (more on this later). Keep reading for everything else you need to know about how borrowing money for college affects your credit history!

Private Student Loan Forgiveness

Introduction

The average price of a 4-year degree in the United States is now $127,000 (and rising). The amount of debt that students are graduating with has become a national crisis. Many grads are unable to get a job and start paying back their loans. Fortunately, many services offer Student Loan Forgiveness Programs for borrowers who meet specific criteria. At the same time, it’s important to note that this program only applies to private student loans and Federal student loans have their own set of programs, including the Public Service Loan Forgiveness Program (PSLF), which is available to all federal loan borrowers.

Student Loan Forgiveness for Teachers

Introduction

Welcome to the world of student loan forgiveness! If you qualify, it can be a great way to reduce the burden of your student debt. But most teachers are eligible for some form of forgiveness. And if you don’t have private loans, you may be able to have all or part of your federal student loan balance canceled after a certain number of years in public service work. There are specific conditions that need to be met, but many teachers will find that they qualify for some kind of relief. In this post, we’ll cover how to apply for Teacher Loan Forgiveness and what you can do if you’re rejected, as well as other programs available for educators who make significant contributions to their communities.

Income Based Repayment

Introduction

In this post, we will discuss the basics of Income Based Repayment (IBR), who is eligible, how to calculate eligibility and what the difference between IBR and Pay As You Earn (PAYE) are.

Introduction

It’s no secret that student loans can be a huge burden. The good news is, that there are different types of student loans to choose from, and one of the most popular options is a Federal Stafford loan. Read on for a comprehensive guide to this loan program and how it could help fund your education!

Should I Refinance My Student Loans?

Introduction

If you’re one of the 45 million Americans with student loan debt, you might want to think about refinancing your loans. Refinancing means replacing your existing loan with a new one that has a lower interest rate and better terms. If you’re able to refinance at a lower interest rate, you could save money on your student loans or even pay them off faster.

Reasons to refinance your student loans

Introduction

We all know student loan refinancing can help save you money and make your debt easier to manage. But if you’re on the fence about refinancing, you might need a little more convincing. Here are five reasons why it might be worth your while to refinance your student loans.

When should you refinance your student loans?

Introduction

If you’re struggling with your student loans, one option to consider is refinancing your student loan debt. Refinancing allows you to restructure the terms of your existing loans by paying off your current loan balance with a new loan that has different terms. In most cases, this results in lower interest rates and monthly payments.