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Law School or MBA? Consider the debt implications

“Most M.B.A. programs leave federal student-loan borrowers with manageable debt loads, a WSJ analysis found. At about 98% of universities that offer the masters of business administration programs, graduates typically made more money two years out of school than they had borrowed, according to the Journal’s analysis of federal student-loan data for nearly 600 programs…

Launching Well: Coaching Young Professionals to Build their Financial Capability November 10, 2021 Webinar

 The CFPB and the SEC invites all undergraduate and graduate students to a webinar, on Wednesday Nov 10h from 2:00-3:00PM EDT to provide insight and resources for post-college financial well-being. Establishing a strong baseline of financial capability is essential for building long term wealth. The program will start by defining common financial and investing terms…

Beware Parent Plus education loans

 “Some of the wealthiest U.S. colleges are steering parents into no-limit federal loans to cover rising tuition, leaving many poor and middle-class families with debt they can’t repay” according to T. D. Hobbs and A. Fuller reporting for the October 14, 2021 Wall Street Journal.  “Unlike undergraduate loans that have limits, there is no cap…

Think Twice Before Refinancing a Federal Student Loan

 Don’t be tempted by super low interest rates to refinance FEDERAL student loans that are subsidized by taxpayers with a private lender. Especially now when payments have been suspended through January and may be extended again. If you are working and can afford to repay your federal student loans, go ahead and keep paying so…

Coronavirus Relief Resources from Consumer Financial Protection Bureau

Relief for rentersA new law provides relief for renters and extends the CDC’s Order to protect many people who can’t pay their rent from eviction through January 31, 2021. Updates to unemployment benefitsCongress passed legislation providing an additional $300 per week to all workers receiving unemployment benefits. The supplement begins after December 26, 2020 and…

Managing your Student Loans Podcast

 Podcasts from the U.S. Consumer Financial Protection Bureau The goal of the podcast is to educate, inform, and engage students, parents, and practitioners with tools and resources created to help them make more informed financial decisions. This podcast will help listeners with tips and strategies to find their inner financial intuition, one money topic at…

Student-Loan Borrowers Need To Plan How to Resume Payments

In March the Cares Act suspended payments and interest on direct federal loans. The suspension ends in December. Don’t wait to plan how you will manage starting repayment; start planning NOW. Writing for The Wall Street Journal JULIA CARPENTER explains the options and why borrowers need to plan now for end of payment holiday. Set…

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…

Behind on Federal Student-Loan Payments?

Lots of options exist, including suspending payments, but some will increase what you owe Cheryl Winokur MunkThe Wall Street Journal, 3/9/20.  “Getting behind on student loan payments—or worse, defaulting—can lead to serious financial consequences.”  Call your loan servicer to learn options to lower or suspend payments. (call the Federal Student Aid Information Center at 800-433-3243…

Coping with Student Loan Debt

Yes, You Can Buy a Home, Start a Family AND Pay Off Your Student Loans From loan forgiveness, to   expedited payments and  income-adjusted payments, there are strategies available to get a grip on overwhelming student debt. Randi Lupi explains the options at: https://www.kiplinger.com/article/college/T042-C032-S014-yes-you-can-buy-a-home-and-pay-off-student-loans.html Source: Financial Planning for Women