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Student Loan FAQs

Student loan repayment can be very complicated.  We’ve compiled a list of frequently asked questions. Check out the answers below! 1. How are monthly student loan payments applied? Most monthly payments are applied to interest first then principal, if you become past due then the payment made goes first to the fees, then interest then Read more >

How Student Debt Impacts Home Buying

Student Loan Hero reports that the average college grad aged 20 to 30 makes a $351 monthly loan payment. There are multiple reasons some young adults have postponed home buying but one of them is their student loans. This echoes a commonly held belief that if you have student loans you can’t or shouldn’t get Read more >

3 Things Your Student Loan Servicer Might Not Tell You

Student loan servicers, the companies that manage $1.4 trillion in federal and private loans, haven’t been earning much trust among borrowers. Sixty-four percent of the 44,400 student loan complaints the Consumer Financial Protection Bureau collected between July 2011 and March 2017 involved problems borrowers had with their lenders or servicers, including not informing them about repayment options. That was almost Read more >

Class of 2017: Get a Jump on Adulthood With These 7 Tips

College prepares students to be everything from accountants and teachers to government workers and health care technicians, but not all students learn basic money management skills. Here’s advice for this year’s graduates on how to succeed financially. 1. Use a tried-and-true budgeting strategy A regular paycheck, however small, can feel like a windfall for those Read more >

What to Do When the GI Bill Won’t Cover College

Under the Post-9/11 GI Bill, veterans who serve at least 36 months of active duty are eligible for coverage of up to 36 months of college or career training. That’s enough for nine months of education each year for four years. Benefits also include a monthly housing allowance and $1,000 stipend for books and supplies. The Read more >

How the Rise in Student Loan Rates Will Affect Borrowers

If you’re planning to take out a federal student loan to pay for college in the coming school year, you’ll see higher interest rates than in the previous year. The new rates will determine the amount you owe monthly in interest once you start repaying the loan. The student loan interest rates kick in July 1 Read more >

The Key to Surviving Student Loan Debt

Student loan default rates have fallen slightly but remain uncomfortably high at approximately 11 percent. That means that about one out of every ten student loan borrowers will default on their loans within three years of graduation. Over the past decade total student loan debt has ballooned to more than $1.4 trillion. The cost of Read more >

Class of 2017: A Student Loan Repayment Checklist

Class of 2017: A Student Loan Repayment Checklist The six month grace period on your student loans after graduation will go faster than you think. You’ll no sooner let out a sigh of postgrad relief when the first bill will arrive. Prepare for the day with this student loan checklist.   Apply for income-driven repayment Read more >

What You Need to Know About Defaulted Student Loans

By Shannon Doyle Student loan default rates are on the rise. Defaulting on your student loans can have massively negative consequences: the federal government has powers to recapture your tax refunds, garnish your income without taking you to court, and can even garnish certain amounts and types of Social Security income. Not to mention there is Read more >

Who is the NFCC?

Founded in 1951, the National Foundation for Credit Counseling® (NFCC®) is the nation's first and largest nonprofit dedicated to improving people's financial well-being.

NFCC members help millions of consumers like you through community-based offices located in all 50 states and Puerto Rico. Each NFCC member agency has earned our seal by adhering to high standards and ethical practices designed to help you achieve financial stability.

Member agencies are able to offer their services for nominal fees based on their current funding status. Funding for operations and services comes from an ever-changing combination of federal, state and local government grants, as well as donations from financial industry participants and private donors.

For more on the NFCC, visit www.NFCC.org

Thank you to our funders.

The Sharpen Your Financial Focus program is an initiative of the National Foundation for Credit Counseling (NFCC) in partnership with a broad cross-section of supporters. Together, we are committed to increasing the financial well-being of Americans. This initiative is partially funded by Bank of America, Chase, Synchrony Financial, Wells Fargo and other major financial institutions. We thank all funders and partners who make this program possible. For more information, visit www.SharpenToday.org.

National Foundation for Credit Counseling
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For NFCC Media Inquiries:
Bruce McClary
Vice President of Communications
Email: bmcclary@nfcc.org