As many student debt borrowers already know from their own research, student loan refinancing is when an individual contracts with a new lender so that their student loans are paid off and they pay the new lender a lower interest rate. Student loan refinancing is attractive to student debt borrowers facing a number of situations since this can reduce the amount of interest a borrower pays over the life of the loan. Due to recent developments, borrowers may ask if refinancing is still worth it, given the steps borrowers must take in order to refinance their student loans. In many situations, re ..read more

Many people who attend college have had someone in their family attend college before them. It is of course easier for people to make life choices if someone they trust made similar decisions before them because these trusted people can provide advice and guidance on how to proceed. However, there are student debt issues of first-generation students about which people should be aware so that they can help ensure that first-generation students are more successful in their pursuits. I am not really a first-generation college student, my mother went to college, but my father did not. Because of h ..read more

Obviously, when people borrow student debt, the reason they are loaned money is to pay for educational expenses. However, students are usually allowed to borrow money in order to pay for living expenses, and this can sometimes be a significant sum of cash. Students can decide to use this part of their student loans for purposes other than paying for housing, food, and related expenses. However, student debt borrowers should keep some things in mind when using student loan money for other purposes. Family Emergencies Perhaps the primary reason why student debt borrowers might consider using stu ..read more

As many people might have heard on the news recently, the United States, and indeed much of the globe, is experiencing the worst inflation in decades. For those who may not know, inflation is when prices of goods and services increase. COVID-19 is making it more difficult to ship goods, and the scarcity of goods along with pressures in the job market are increasing prices. Everyone needs to contend with inflation since it seems like prices will continue to rise and inflation will be higher than usual for the foreseeable future. Dealing with inflation as a student debt borrower may be easier if ..read more

Student debt borrowers may take a hit on their credit score at one point or another during their student debt repayment saga. This usually occurs if a borrower is late in making payment or if it looks like a borrower may not be a solid credit risk in the future. Credit is important to achieving numerous financial goals such as buying a car, purchasing a home, or pursuing other accomplishments. However, repairing your credit can be easy if you keep a few things in mind along the way. During my student debt repayment saga, there was one time when my credit score went down by around 100 points. I ..read more

As this website has discussed in several prior articles, the income you earn from your main job will be the primary means by which you can pay off student loans. As much as you earn from side-hustles, and save through various financial sacrifices, the money you make from your main job will have the biggest impact on your student debt. Throughout the course of my student debt saga, I received raises, and this made it easier for me to repay student loans. There are a few things that student debt borrowers should keep in mind when asking for a raise to ensure they have more money to pay off stude ..read more

College textbooks and course materials for most graduate programs can be extremely expensive. Indeed, it is not uncommon for students to spend between $500 and $750 on textbooks per semester depending on the courses and the degree that the student is pursuing. Since most college students need to borrow money to attend school, they may need to take on more debt to pay for textbooks they need for class. However, when saving money on textbooks, students should keep a few things in mind to protect their bottom lines. Buy Used Books Perhaps the most important thing to know about saving money on tex ..read more

Community colleges are affordable higher education institutions that usually offer two-year degrees and credentials in a variety of vocational programs. Some community colleges offer four-year degrees, and certain community colleges may permit students to complete courses to earn credentials at other institutions. In any event, community colleges are usually an affordable option since credits typically cost a fraction of the price at a community college than at a traditional university. Although community colleges may not confer academic credentials that are awarded at traditional institutions ..read more

As many readers of this website already know, borrowers of federal student loans have not needed to make student loan payments since the beginning of the COVID-19 crises. This has permitted student debt borrowers to focus their financial resources elsewhere, which has been helpful because layoffs and other financial disruptions as a result of the COVID-19 crises have negatively impacted millions of Americans. However, it appears as if the federal student loan pause will expire in January of 2022. If student debt borrowers keep a few things in mind, preparing for the student loan restart can be ..read more

Student debt borrowers may face numerous sources of stress and anxiety while repaying student loans. Indeed, many student loan borrowers might not have the resources to meet all of their financial responsibilities and this can create a lot of mental health issues. In addition, the dread created by student loans and the magnitude of the debt can also be a source of stress. So long as you keep a few things in mind, dealing with mental health issues while repaying student debt can be a lot easier. Find a Mentor Mentors are an invaluable resource when dealing with mental health issues while repayi ..read more