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College Debt Resources

About 45 million Americans owe more than $1.6 trillion in student loan debts. Let those numbers sink in a moment…And there are plenty of too-good-to-be-true offers to help out.Where can you go for reliable help? Federal ResourcesOffice of Federal Student Aid (for federal student loans) https://studentaid.gov/provides free info on managing loans and programs like the…

How long does it take to pay off student loans?

College grads expect to pay off student debt in 6 years—this is how long it will actually take “Educational services company Cengage surveyed 2,500 recent and upcoming graduates for the Cengage Student Opportunity Index and found that respondents, on average, believe it will take six years to pay off their student loans.”“In reality, it will…

Impact of student loans on women

Women are at a crucial disadvantage when it comes to student loans “Researchers surveyed 1,000 college-educated adults across America and found that 37% of women did not understand the basics of student loans — which are things like timelines, monthly payments, interest rates, tax implications, refinancing and evaluating lenders, before they borrowed — versus only…

Till College Debt do We Part

“Marriage can change everything for couples– in some cases even their student-loan payments” writes Cheryl Munk for The Wall Street Journal.  The media has educated us about the high costs of attending college and the massive student debt load facing many millenials and their parents. Often house buying, procreation and investing for retirement are delayed…

Trump Administration cuts aid to students defrauded by for-profit colleges

Trump’s Education Secretary Betsy DeVos is changing regulations on student protections with regard to for-profit schools. Now students defrauded by for-profit collegeswill receive only partial loan forgiveness according to The Associated Press. Trump is rescinding the Obama administration’s practice of forgiving the debts of students deceived by the now-defunct Corinthian Colleges.  “Critics accuse the department…

Student Loan Repayment: 12 Rules

Kim Blanton provides excellent advice on the Squared Away Blog. 1. If you earn enough to make your payments, start paying. 2. Open your student loan mail.    3. Call your loan servicing company.  But do not call without doing some homework first.   4. The best option for lower-income former students with high debt…