Student Loan Refinancing: Variable vs
Fixed Rate
When student loan borrowers are looking to refinance student loans, they typically come across two options: a fixed rate student loan and a variable rate student loan. Variable rate student loans are the most common when refinancing orconsolidating your loans, but fixed rate loans are available.
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LendKey: Enabling Dreams – Student Loan Payoff
Have you ever fantasized about a stranger walking up to you in public while you were minding your own businesses, maybe having lunch at Starbucks, and handing you one of those giant checks like lottery winners get? If you have student loan debt, the answer is probably yes. Well, fantasies do sometimes come true, and Liz Herlihy’s fantasy came true…
9 Things You Didn’t Know About Student Loans
Around 71% of Americans have student loan debt when they graduate from college–and paying it off isn’t easy. The standard repayment plan is set up so that students can pay off their loans around 10 years after graduation. Unfortunately, not every student is able to reach that goal. Some may take twenty years or longer to reach their student loan repayment…
Credit Freeze – What, How, Why, and Other Things to Consider
Identity theft is one of the biggest concerns in the modern world – especially given the relatively recent high-profile breaches. If you have had your identity stolen, getting it back can be a nightmare. Even if you have not, then the fear of somebody racking up thousands of dollars of debt in your name can be paralyzing. Because of this,…
Student Loan Forgiveness – What You Need to Know
In our current times, few things are as polarizing as higher education. One the one hand, it is immensely valuable and necessary to build and advance in a successful career. On the other hand, the cost of a bachelor’s or master’s degree can cripple your finances. According to the Pew Research Center, almost half of all adults under the age…
Your Basic Guide to Credit Freezes
Following the Equifax data breach in 2017, many customers started talking about the possibility of a credit freeze: a simple step they were hoping would prevent identity theft. Understanding how to perform a credit freeze, when you might want to perform one, and how to return your information to its normal state will help you navigate these often murky financial…
Five Ways to Pay Off Your Student Loans Faster
Student loans are among the easiest forms of debt to let pile up and can plague a borrower for a lifetime, potentially undercutting long-term financial goals if they aren’t handled correctly. Even though the balance on your loans can feel overwhelming, however, there are some great options for getting out from under the shroud of student loans much sooner than…
Student Loan Repayment Options to Avoid Default
What to do When You Can’t Afford Your Student Loan Payment The consequences of not paying student loans are harsh. Unlike other types of loans, if you are unable to make payments, student loans are generally not dischargeable with bankruptcy.1 Defaulting on a student loan can result in anything from being sued for the amount of the loan, to the…
A Guide to Budgeting for Recent Graduates
A Guide to Budgeting for Recent Graduates Graduating college is a major milestone. Finally, you can expect to have no more classes, no more homework or tests, and no more all-nighters (hopefully)! But with this newfound freedom comes a new series of responsibilities. For one, your student loans are looming over the horizon, and you’ll need to start budgeting for…
How to Save Money When You Have Student Loan Debt
3 Tips for Short-Term Savings When You Have Student Loan Debt Are you having trouble setting money aside from every paycheck? You’re not alone. About 61 percent of people say they don’t have enough money saved up for six months’ worth of expenses. Moreover, 49 percent of Americans are even worse off—they’re not able to set anything aside for their…
Spending and Saving on a Recent Graduate’s Budget
What Overspending Now Means for Your Future Wallet Student loan debt in the United States is estimated to total $1.4 trillion. It’s rare that you can exit those ivy-clad halls with a diploma in hand without also carrying an invoice for tens of thousands of dollars. Student loans are taken out with the expectation that the return on your investment…