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Student Loans

Income-Based Repayment Option for Student Loan Debt

By Drew Kessler You’ve done it. After years of hard work, you’ve finally earned your degree and graduated from college. What’s next? Finding a job and a place to live, budgeting for basic living expenses, and hopefully starting to put money away for the future. For about two-thirds of college graduates, paying off student loan debt is an additional priority. The average graduate leaves school with around $26,000 in student …Read More

Money Saving Tips for College Students

By Drew Kessler Let’s face it, college is expensive and most students have a limited cash flow. The good news is that a number of businesses realize this and make an effort to accommodate their student clientele. Always keep an eye out for student discounts, and bring your student ID with you wherever you go. Many establishments offer discounts to anyone with a student ID – from clothing stores to …Read More

Educating Consumers: How To Spot a Student Loan Debt Relief Scam

By Bruce McClary The growing burden of student loan debt has drawn much attention from those who wish to address consumer needs, but not all of that attention is positive. Student loan debt relief is a term that is in danger of becoming synonymous with “scam” or “rip-off”. Some of the same players that were abusing consumer trust under the banner of for-profit debt settlement or foreclosure rescue are now …Read More

What College Graduates Should Know About Student Loan Repayment

By Bruce McClary If the results of the recent NFCC financial literacy online poll are any indicator, many college graduates will soon experience sleepless nights, as more than half of the respondents (53%) suggested that student loan debt repayment was causing them the most stress. The best way to feel more confident about keeping your student debt under control is to have a specific plan. Part of the planning process involves …Read More

NFCC Acquires Student Loan Alliance®

By Bruce McClary The NFCC is pleased to announce the acquisition of the Student Loan Alliance® (SLA). This announcement heralds a new chapter in counseling services for consumers struggling to repay their student loans. Student loan debt recently surpassed credit card debt at $1.3 trillion, and is now second only to mortgages in terms of total consumer debt. Among the 43 million total federal student borrowers, 7.3 million are at least …Read More

Student Loan Borrowers Don’t Know What They Owe

By Jesse Campbell Here’s the scene: you’re closing on your dream house. The bank’s approved you for a loan. They present you with a stack of paperwork and begin to explain the terms and conditions of your mortgage. “Nah,” you say. “I’m good. Where do I sign?” “Don’t you want to know what you’re signing up for? The loan amount? The interest rate? The good faith estimate? Anything?” “Nope,” you …Read More

How Do I Quickly Pay Off Student Debts?

By Melinda Opperman For an entire generation, excessive student loan debt is like a millstone chained around one’s neck. With so much debt hanging over their heads just as they start out in the working world, many of today’s recent graduates want to know how to pay off student loans quickly. Because the amount of debts we’re talking about are typically very large, there’s not quick shortcut to getting out …Read More

The Key to Surviving Student Loan Debt

By Jesse Campbell A recent report released by the Department of Education shows that student loan default rates have fallen slightly for the first time in seven years, but still remain uncomfortably high at approximately 14 percent. That means that one out of every seven student loan borrowers will default on their loans within three years of graduation. One possible reason for that massive default rate? Over the past decade total student …Read More

Survey Reveals Varied PerspectivesRegarding Student Loan Debt

By Gail Cunningham The NFCC 2014 Financial Literacy Survey revealed that U.S. adults have a varied range of opinions and experiences when it comes to how they view student loan debt. By a two-to-one margin, borrowers were more likely to say that their student loan was a good investment than a bad investment. At the same time, however, more U.S. adults would not recommend student loans as a way to …Read More

What To Do If You DefaultOn a Student Loan

By Lauralynn Schueckler It’s possible that you didn’t realize your loan came out of deferment, and you missed some payments. Unfortunately, we see this kind of thing all the time. If you’ve missed even one payment, then you are at risk of defaulting on your student loan. Defaulting on your loan has some serious consequences. However, here are a few things you can do to avoid any more damage. You …Read More