Blog
Our blog is designed to provide information regarding some of the critical topics those with student loans must be aware of to be able to make educated decisions regarding their future.
U.S. Department of Education Extends Coronavirus Forbearance
On Friday, December 4, 2020, the United States Department of Education (ED) announced that coronavirus student loan relief measures have been extended through January 31, 2021. Interest rates on eligible federal student loans will stay at 0% and federal student loan payments will remain suspended until February 1, 2021. The extension affects the approximately 42 million federal student…
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Guide to a Cash-Out Refinance for Student Loans
Do you have a house and student loans? A student loan cash-out refinance mortgage might make managing your student debt a little easier. With a student loan cash-out refinance mortgage, you refinance your home and use your home’s equity to repay your student debt. In other words, the money from the refinanced home loan pays off your current…
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What Happens When You Miss a Student Loan Payment?
Federal student loan payments resume in just a few short weeks unless Congress takes further action. If you’re worried about the coronavirus administrative forbearance ending, you might be wondering what would happen if you fell behind on your payments. Below, we’ll cover what happens when you miss a student loan payment and tips on how to stay current…
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Are Community Colleges Bad? The Case for Community Colleges
Community colleges often get a bad rap in the media and even in high schools. However, these two-year colleges help millions of adults earn a degree or certification at a fraction of the cost of a four-year institution. Below, we’ll talk about community colleges and answer the question, “Are Community Colleges Bad?”. What is a Community College? A…
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Can I Refinance My Student Loans After a Consolidation?
Actively managing your student loans by consolidating or refinancing can help you save money, free up your monthly budget, and/or pay off your loans faster. If you’ve already federally or privately consolidated your student loans, you might be wondering, “can I refinance my student loans after a consolidation?” In short, the answer to that question is “yes.” As…
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Should I Get a Credit Card as a College Student?
With a credit card, you could overspend, fall behind on payments, and end up in debt. Without one, you might have trouble renting an apartment or purchasing a car. Given the catch-22, it’s no wonder that so many young adults are unsure about whether or not to apply for their first credit card. Below, we’ll walk you through…
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Everything You Need to Know About Offer in Compromise
Federal taxes are unavoidable. You pay taxes on your income, your bank account interest, investment account earnings, some types of forgiven student loans, and loads of other assets and wealth. Some borrowers cannot afford the taxes they owe, so they end up with unpaid federal tax debt. If you’re facing a tax debt you can’t pay back, you…
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Guide to Buying a New Construction Home with Student Loan Debt
If you’re burdened with student loan debt, being handed the keys to a new construction home might feel impossible. That’s not necessarily the case, though. Lenders consider a lot more than just your student debt amount when evaluating your mortgage application. And the cost to own a home—even a new construction home—can be more affordable than renting, depending…
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Variable Student Loan Interest Rates – 4 Things to Watch Out For
Whether you’re borrowing a private student loan or refinancing your student loans, you have a choice to make. Do you go with a variable or a fixed interest rate loan? Variable student loan interest rates can change multiple times per year as the market changes. Many private student loan lenders set rates based on the London Interbank Offered…
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How to Get Debt Forgiveness – Programs for Each Type of Debt
When you’re majorly in debt, getting out of debt can feel hopeless, especially if you’re facing high-interest rates. Making minimum payments—if you can keep up—hardly feels like progress when the balance is still higher than it was when you first borrowed the money. Depending on your circumstances, you might not be stuck fully repaying all of the debt…
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