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Tag Archives: student-loans

5 Student Loan Terms Every Borrower Should Know

Money and book

If you have student loan debt, you’ve probably noticed that your loans have a language all their own – and the last thing you want to do is spend your free time learning it. The good news is that you don’t need to be fluent in loan lingo in order to navigate the world of education debt – but familiarizing yourself with ... Read More »

    The Way We Look at Student Loan Debt Is Dangerously Wrong

    math

    Another calendar quarter has passed and the latest edition of the Federal Reserve Bank of New York’s Report on Household Debt and Credit is on the wire. As usual, there’s plenty of news to pick apart. Take, for example, the reported $ 117 billion increase in average household debt in the final three months of 2014. Some might say that ... Read More »

      6 Reasons to Love (Okay, Grudgingly Accept) Your Student Loans

      Ready to Collapse

      Valentine’s Day is coming up, but we know you don’t want to put a ring on your student loans. Even if you can’t love them, here are six good reasons to value your loans. A college degree is still good value. A recent study by the Federal Reserve Bank of New York affirms what we have long said: going to ... Read More »

        Student Loan Debt Relief and Credit Counselors in 2015 and Beyond

        signing

        Legitimate Debt relief services are often boiled down to 3 categories, which include nonprofit credit counseling agencies, debt negotiators, and bankruptcy attorneys. I want to focus on the role of today’s credit counselors, and how they can fill a larger pair of shoes this year and beyond, with a keen focus on student debt. Student loan debt has rightly been ... Read More »

          What if I Just Pay Less Than They Want on My Student Loans

          To get the real answers, do the math and listen to what it has to say. Math does not lie.

          “Dear Steve, I received my master’s in 2011. I worked in my field for about 6 months until the job was dissolved due to a change in contract. During this time my son had major health problems and now I say home with him during the day and work part time in the evenings. My wife make good money but ... Read More »

            Student Loans Will Kill Your Dreams of Home Ownership

            Portrait scary monster clown

            The vast majority of consumers in America make important financial decisions basically by-the-seat-of-their-pants. I know people mean well but it is commonly bad advice and accepted assumptions that cause a bright financial future to be scuppered. Let’s take the issue of student loans for example. Loads of people blindly regurgitate “student loans are good debt” so much so they believe ... Read More »

              Will My Parents Have to Pay My Student Loans? – Roger

              loans_summary

              “Dear Steve, Hi, I have some student loan debt (a total of $82,000) and I was wondering if something should happen to me, would my parents need to pay it off? I have always wondered this, because well frankly stuff happens and we don’t always know what might happen tomorrow. I am including a copy of the types of loans ... Read More »

                Why Most Student Loan Debt Advice is Bad or Just Wrong

                money down the drain narrow

                As a consumer debt expert it is exceedingly frustrating hearing from people all around the country on a daily basis who are seeking good help for their student loan troubles, only to get really bad advice, or worse, ripped off. The scammers are ahead of the experts on selling student loan solutions. It’s not unusual at all for me hear ... Read More »

                  Student Loans Continue to be Ticking Time Bomb

                  stressed man

                  If you could see me at the moment you’d find a man blue in the face. Literally blue! And I’m blue from talking about the dangers of student loans over the past years and having it fall of deaf ears. Recent data from the Federal Reserve Bank of New York and Equifax shows just how dangerous student loans are. In ... Read More »

                    I Have Stage 4 Colon Cancer and Student Loans. – Maria

                    'Cancer' highlighted in green

                    “Dear Steve, 2001 got private student loan grandfather co signed. Grad 2007 after a divorce and a child born in 2008 I had finical hardship. Ive paid on time in 2012 . 2013 diagnosed with stage 4 colon cancer im on full disability, my co borrower is now 87 and on ssa as well. Its 160 days past due. What ... Read More »

                      Student Loan Debt Robs Many of Retirement

                      Screen Shot 2013-08-20 at 4.20.56 PM

                      A new report out by the public policy organization Demos, confirms what I’ve feared for too long. Student loan debt robs people of retirement wealth. The growing burden of student loan debt and the limited options to manage that debt are leading to more and more people becoming so caught up in financial slavery that their very ability to properly ... Read More »

                        The Explosion of Student Loan Debt in Pretty Pictures. OMG!

                        3 bikini models on rocky beach

                        For those dealing with paying for education using student loans here are a couple of excellent charts put together by a Raleigh neighbor and brainiac Doug Short. As you can see, the explosion or pole vault of college cost and the rocket like trajectory of federal loans to students don’t paint a rosy picture for the affordability of a higher ... Read More »

                          Proposed Student Loan Changes May Make It Easier to Pay

                          Student Loan Corkboard Concept

                          The Department of Education will publicly issue a notice of proposed rulemaking tomorrow that could make it easier for people with loans from the Federal Perkins Loan (Perkins) Program, Federal Family Education Loan (FFEL) Program, and William D. Ford Federal Direct Loan (Direct Loan) Programs. Consumers wishing to offer any public comment on these proposed rules may do so visiting ... Read More »

                            Big Case Proving Ability to Discharge Student Loans in Bankruptcy

                            College Tuition Expenses

                            Times are changing when it comes to being able to discharge student loans in bankruptcy. And while the road has been paved by a few who have been successful, one 2013 case decided by the U.S. Appeals Court in the Ninth Circuit seems like it gives hope to those who want to discharge their student loans through bankruptcy. The Ninth ... Read More »

                              The Growing Impossibility of Affordable Student Loans

                              college costs

                              Student loan debt is an impossible crisis that is the result of the divergence of society assumptions and affordability. The chart below clearly shows how the cost of both a public and private college education, while assumed to be the path to success, is becoming out of reach. The chart shows the inflation adjusted increases in costs and as you ... Read More »

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