Reviewed by: Scott Birmingham CFPScott Birmingham is a dedicated financial services professional with nearly 20 years' experience advising families and small business owners on all aspects of their financial picture. As a parent, you can refinance Parent PLUS loans in your name to lower the interest rate or you can refinance it into your child's […]
At a Glance:People who are looking for help with student loan repayment might be eligible for student loan forgiveness depending on their profession and where they work. Federal student loans could be forgiven or discharged in certain cases.At the federal level, there are the Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness programs (note […]
Currently, there is over $1.5 trillion in outstanding student loan debt. With millions of graduates struggling to find work that pays a decent salary, many people are unable to make their loan payments under the standard repayment plan. There are a variety of Income-Driven Repayment plans available that can decrease your monthly bill and keep you from […]
When it comes to managing your finances, deciding between prepaying your student loan debt, investing in the stock market, or saving for retirement can be extremely challenging. Financial experts are divided about what is the best course of action, and in many cases, it is entirely dependent on your unique situation, your current needs and […]
When it comes to refinancing or consolidating your student loans or taking out a new private student loan there are many options available to you. Your eligibility for the most favorable terms is determined by your loan amount, your credit score and your desired repayment plan. You can use our student loan comparison calculator to look at multiple […]
If you are struggling with your loan payments, you might be tempted to call your lender and request a forbearance or deferment. However, you should enter these programs with some caution; often, they do not solve the problem and can make it worse. This student loan deferment and forbearance calculator will help you determine how […]
Saving money can seem hard but the sooner you get started, the sooner you can start earning interest. When you put your money into a savings account or investment account, you will be rewarded by earning a percentage of the balance each year. The longer you keep your money in, the greater the effect of […]
One benefit of student loans is that you can get a significant deduction at tax time. You can deduct up to $2,500 in student loan interest payments on your taxes. Both payments made on federal student loans and private student loans are eligible. That $2,500 lowers the amount of income that is taxable by the government. Whether […]
So many students are told that student loans are “good debt,” and that they should not worry about taking out loans to pay for school. Well-meaning friends and family members will tell them interest rates are low and post-college salaries high, so monthly payments are no big deal. Then, it is a harsh wake-up call […]
