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Student Loans

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

How to Restore Your Credit Score
After Defaulting on Student Loan

By Erica Sandberg Dear Erica, I had student loans that were in deferment. I did not know they were no longer deferred. They led me to believe as long as I didn’t have a job, I would be OK. They switched companies, and I started getting letters saying I was 200-plus days behind on payments. I made the missed payments plus extra, and kept making monthly payments until they automatically …Read More

Don’t Dawdle on Student Loan Search

By Jason Alderman Millions of young Americans a few months ago began their senior year of high school. If your kid is among them, he or she is probably busy juggling homework, extracurricular activities, and maybe a part-time job – all while trying to savor the last official year of childhood and simultaneously prepare for impending adulthood. You, on the other hand, are likely just wondering how the heck you’re …Read More

Mastering Student Loan Debt

By Barb Miller I’ve recently observed a few disturbing trends with student loan borrowers. I would like to share some of those with you, along with some tips for avoiding over-borrowing student loan debt. Otherwise, you might just sabotage your financial future. By this I mean you will owe so much in student loans you won’t be able to afford (or qualify for) a home mortgage or auto loan. TRENDS …Read More

What You Need to Know
About Defaulted Student Loans

By Shannon Doyle Student loan default rates are on the rise. Defaulting on your student loans can have massively negative consequences: the federal government has powers to recapture your tax refunds, garnish your income without taking you to court, and can even garnish certain amounts and types of Social Security income. Not to mention there is no time limit on how long they can try to collect on your defaulted loans. …Read More

How to Handle Student Loan Debt Collectors

By Lauralynn Schueckler When you default on a student loan, the government will usually hire debt collection agencies to collect on these loans. It’s not quite as straightforward as you might like to think, to try and get this loan to just disappear. The collection agencies are sometimes known to twist their words around to get what they want, while leaving you confused and hanging. Everyone needs to be aware …Read More

Student Loan Caution and Action Advised

By Sara Gilbert Recent Associated Press headlines, and an article in May’s issue of Consumer Reports have identified student loans as the next potential head-on collision that Americans will have with their debts in the coming months and years. A few years ago over-extended mortgagors and a loose mortgage lending environment helped to initiate the economic slow-down we have been experiencing. Now some are suggesting that student loan repayment difficulties will …Read More

Can Your Family Afford College?

By Jason Alderman I’m a firm believer that the more knowledge you acquire, whether through college, trade school or self-study, the richer your life will be. But as college tuition and fees continue to skyrocket, students and parents increasingly are asking, “Is a degree really worth the cost?” For many people it certainly is: On average, college graduates earn roughly $550,000 more than high school grads over a lifetime, according …Read More