5 Warning Signs That Might Indicate a Student Loan Scam
Many individuals have student loans to repay, and unfortunately, some are having trouble making those monthly payments. This is often due to other debt they are carrying like a car loan payment(s), a mortgage payment, and even credit card debt. This issue is ripe for a student loan scam.
In practically all publications that accept advertising, you’ll run across ads that say your problems can be over if you sign up with them. The ad will go on to say that they can help you to repay your student loans faster and at a lower cost – or they will get them completely forgiven.
These types of claims should be a red flag waving in your face and making you extremely cautious. There are some companies that may be legit, but there are also many that are scammers.
The following will help you to identify a student loan scam: View full post…
Paying Off Student Loans Faster By Using These Simple Tips
It’s been a long four years, but you finally graduated from college. You really put forth a lot of effort and studied hard to earn your bachelor’s degree. Searching for a job has begun, and in addition, you are being faced with paying off student loans that are mountain high.
There may be a faint light at the end of the tunnel to assist you in repaying student loans fast. However, it’s essential that you fully understand the terms of your student loan debt in order that you handle them properly.
Many students blindly apply for loans and don’t even keep track of them. Various creditors send them statements that offer some explanation, and the student doesn’t even look at them.
The Only 4 Steps to Use in Consolidating Student Loans
Before consolidating your student loans, review your individual loans carefully. Simply having your monthly payment lower could cost you substantially more in the long run. One of the primary reasons for consolidating student loans is to save money by paying less interest and also to lower your monthly payment.
Students that have to rely on student loans to finance their college education can have as many as sixteen (16) individual student loans. And if that student has to borrow to finance graduate school as well, they will have a few more student loans to contend with.
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With college tuition and other costs rising so rapidly, it’s no surprise that the average student loan debt is also at an all-time high. Unfortunately, very few students are able to attend college and receive a degree without some form of financial assistance. Those who are able to receive scholarships and grants are well aware that they seldom cover the full cost of tuition.
Well, the day has finally arrived! Four long years of intense study, and ten or eleven student loans of varying terms, rates, and monthly payments, and you are a college graduate. You wonder how in the world you will be able to manage all of these loans. You add up the balances of each and they total $33,000.00, which is just about the average debt for a college graduate. That fact doesn’t help much, but then you read further and see the term consolidate student loans.
5 Ways To Pay Back Your Student Loans More Effectively
Student loans loom large in everyone’s minds once they graduate, and for good reason: the average debt load could have bought a new car. The interest rates on student loans are also pretty steep, making them difficult to handle for people who are just starting out on their career. In this article, we will go over five ways to get ahead on your student loans.
Income-based repayment, or IBR, is a federal program that allows students to reduce their loan payments to a small percentage of their disposable income. You have to be making an income below a certain amount to qualify. View full post…
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