Category Archives: Student Loan Related

CFPB Gets an Earful of Good Suggestions About Student Loan Disclosures: Recently the Consumer Financial Protection Bureau (CFPB) requested feedback from consumers about student loan issues. Advanced results and feedback on the survey are now available. The focus of the CFPB effort is to make information more available to students and potential students so they can make the best and most informed decision possible before falling [...]
Student Loan Forgiveness or Discharge Can Create a Huge Tax Bill. Watch Out!: If you are one of the lucky few who have qualified for a discharge or cancellation of your student loan debt, you may be shocked to learn the debt may not be over with just yet. A reader brought to my attention that the forgiveness of student loan debt, even under a disability discharge, can [...]
Interest Rates on Federal Student Loans to Double: Photo Credit: Bark Interest rates on federal student loans will double unless Congress takes action by this summer to keep the low rates in place. Currently federal student loans pay 3.4% interest but that rate is set to expire this summer. So unless Congress takes action to keep the rates low they will revert back [...]
Student Loans: Necessary for a College Degree?: Student Loans-Rising Costs of College Tuition the Culprit? How much does college tuition cost? Without considering the cost of room and board, here are some average tuition costs. Public four-year colleges charge, on average, $7,020 per year in tuition and fees for students who live in their state. The average surcharge for full-time out-of-state students [...]
Military Student Loan Forgiveness and Discharge Programs: More and more at GetOutOfDebt.org we are getting questions about how to get your student loans eliminated, forgiven, or discharged if you are in or served in the military. It is absurdly ironic that members of the military can go into harms way, fight in combat and yet return back home only to struggle trying [...]
Student Loan Consolidation Opportunities and the Best Way to Lower Your Student Loan Payments: A frequent question we get on GetOutOfDebt.org has to do with student loans. Quite frankly many of them are a financial death sentence and a trap. Student loans are one of the worst debts you can owe. I’m not even sure owing a loan shark is worse based on many of the stories I’ve read [...]
Having Trouble with Your Student Loans? 3 Options to Help You.: Student loans can be a huge burden, especially when your income drops. We have a student loan that weíre working to pay off early. Last year I went ahead and consolidated the loans to get a lower interest rate. Since some readers may be carrying a student loan and are looking for ways to get [...]
Is there a way to get student loan forgiveness if I became disabled during my last year in school? – Jade: I have an autoimmune disorder called Lupus, and during my senior year in college, I had a massive flare-up that hospitalized me for 7 months, to the point where I needed chemotherapy! I was released, but suffered from Transverse Myelitis, which is a neurological disorder, caused by inflammation of the spinal cord. I now struggle [...]
Is it true? – Paul: I live in San Diego CA and am a Navy Veteran, when I got out of the Navy in 2003 I attended a school by the name of Micro Skills. which closed soon after i completed my last class with them. I have been paying back on that loan, which i used my VA benefits [...]
CFPB to Take a Look at Private Student Loans: The Consumer Financial Protection Bureau has announced they are taking a look at issues surrounding private student loans. The CFPB is asking for feedback on “private education loans and related consumer financial products and services that are currently being offered to or used by students and their families for the financing of postsecondary education.” You [...]
How to Manage Student Loan Debt: Count yourself among the privileged few if you finish college without accumulating a lot of debt. Unfortunately, the majority of college graduates have student loans to pay off. Depending on the amount of debt you’ve built up, you could end up forking over a portion of your paycheck for years, or even decades, after you [...]
Are Elite Schools Worth the Cost?: Is it worth spending the extra to go to a prestigious school, or will a less selective university be just as good? Can you save some bucks, or will those college savings end up costing you when it comes time to make a living? Is a student at Harvard destined to make a better living [...]
When Do You Start Saving for Your Child’s College Fund?: The following guest post was contributed by Elle from CoupleMoney If you would like to contribute a guest post, click here. Preparing for the Baby’s College Fund From time to time, I get feedback from Couple Money readers. It’s something that I enjoy and try to respond to. After my recent post on preparing the [...]
Hooking Up to Get Out of Debt. Sex for College Tuition.: If you were deep in debt, owed a bunch of money for school in college loans and had a smoking hot body, would you be willing to trade a little companionship and ah, sex, to pay off your debt faster? Well that’s exactly what some “sugar babies” are doing. The website Seeking Arrangement.com helps to [...]
College Grads 2011, Bad News, You Are The Most Indebted Ever With Student Loans: Thanks to an awesome reader and tipster I was told about the recent Wall Street Journal article which shows the graduating class of 2011 is the most buried under student loan debt, ever. Even as the average U.S. household pares down its debts, the new degree-holders who represent the country’s best hope for future prosperity [...]