Student Loans
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.
Student Loan Delinquency and How To Define It
Today over 44 million borrowers have $1.4 trillion in student loan debt. The average debt it $37, 172, so it should come as no surprise that many have trouble paying all that back on time. In the 4th quarter of 2016, new delinquent balances of 30 days or more stood at $32.6 billion. New seriously delinquent balances of…
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Everything You Need to Know About Subsidized Loans
What is a subsidized loan? If you’re not sure of the answer, you’re not alone. Applying for college is difficult enough, but finding a way to pay for your college tuition, room and board, and other expenses can be even harder. The FAFSA (free application for federal student aid) allows you to streamline the process and apply for…
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Finding Out Your Federal Financial Aid with the FAFSA4caster
If you could see how much financial aid you’ll get for college, would you want to? The FAFSA4caster is a free tool from the Department of Education to estimate your federal financial aid before you submit the Free Application for Federal Student Aid (FAFSA). You can use the tool to compare the costs of several colleges in addition to working…
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Federal Perkins Loans
College is an expensive undertaking, and many students don’t have the resources to pursue their degrees. To help more students attend and graduate from college, the U.S. government supports several student aid programs for students at all levels of income. Low-income college students who apply for financial aid often qualify for a Federal Perkins Loan. What is a…
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The Facts on Medical School Loans & Repayment Plans
Higher education is expensive enough as it is, but its cost can rocket to even more extreme levels should one want to attend medical school. Some fortunate students will receive scholarships or will have parents who saved substantially enough to put a dent in the total cost of medical school. But others will need to use medical school…
Continue Reading ->16 Things You Must Know before Signing a Student Loan Promissory Note
What Is a Promissory Note? When you take out a loan, you need to sign a promissory note that includes your promise to pay and the terms both parties must fulfill. A promissory note is your loan agreement, and it is legally enforceable. You will need to sign a promissory note when you borrow for a mortgage, business…
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Student Loan Interest Deduction and Forgiveness
As national student loan debt climbs over $1.5 trillion, students all over are desperate for ways to lower their debt. A popular means to do this is by taking a student loan interest deduction. The federal government offers several ways to reduce your loan interest burden based on factors like income level, student status, and family size. Average…
Continue Reading ->American Opportunity Credit For Higher Education Expenses
Today, the day you’re reading this, higher education has never been more expensive. The cost of attending a college or university has been growing at a rapid pace in the past decade or two, forcing parents and students alike to look for ways to bring down the price tag on a diploma. What if I told you there…
Continue Reading ->Take Advantage of the $2,000 Lifetime Learning Credit, an IRS Tax Break for Higher Education
IRS Tax Breaks for Higher Education The IRS offers three tax breaks for the costs of your higher education. Lifetime Learning Credit (LLC) – $2,000 American Opportunity Credit (AOC) – $2,500 Tuition and Fees Deduction – $4,000 You can only choose one each year, so be sure to choose the one that will give you the most money…
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How to Avoid a Student Loan Tax Offset
If your federal student loans are in default, you might face a tax offset when tax season comes. The IRS could take some or all of your tax refund and use it to pay off your defaulted federal loans. Below, we’ll fill you in on why tax offsets happen, and how. You’ll learn how to know if you’re…
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