Those who graduate college with student loans owe close to $30,000 on average, according to the most recent data from the Institute for College Access & Success. But they’ll likely repay thousands more than that because of interest. One key to limiting interest cost is choosing the right repayment plan. The bottom line? Opting for Read more >
For 61% of students, college costs more than they expected, according to a recent survey from College Ave Student Loans conducted by Barnes & Noble College Insights. Yoselin Guzman, an 18-year-old UCLA freshman from Compton, California, can see why. “There’s like little costs you don’t even see,” says Guzman, noting how expensive dorm items, books Read more >
For many entrepreneurs, starting a business means more purpose, flexibility, freedom and control at work. But when student loans take up a big portion of your budget, that dream may be harder to achieve. The median monthly student loan bill among those in repayment is $222, according to data retrieved by Student Loan Hero. That Read more >
Q. Can you help with a student loan that has gone to collections? Dear Reader, Your options to deal with a student loan collector will vary depending on the type of loan that you have and how much you owe. If you have private loans, you will have talk to your loan servicer Read more >
It’s estimated that there are 1.3 million active-duty service members and more than 800,000 in reserves. To show appreciation for the sacrifices made by these men and women, the Department of Education has put into place several benefits, including those that relate to repayment of student loans. The Department of Defense announced a new policy in April Read more >
The opportunity to live and work abroad can lead to some memorable life experiences and potential career advancement, but it can also include some challenges when student loans are involved. Although there is no specific tally from official sources, it is estimated that there are roughly 9 million Americans who live and work outside of the U.S. Based Read more >
Once a student accepts a student loan package, funds are usually applied directly to his or her student account balance and may be applied to tuition and fees or other costs, like room and board. Loan packages are typically broken up between the fall and spring semesters. Any overage is paid directly to the student by check or Read more >
Q. I have a question regarding a student loan that has gone into default. I’ve reached out to the collection agency and have been given three options for paying off the loan. 1) I can pay off the loan in full immediately (including fees and interest). The result would be that on my credit report Read more >
FIRST INTRODUCED IN 1996, 529 college savings plans offer parents a way to save for college expenses for a designated beneficiary. They are exempt from federal taxes and some states offer special tax benefits as well. And yet, studies show fewer than 1 in 5 people have a 529 plan. With the growing number of people facing student Read more >
Q. I have an outstanding student loan from 1990. I have seen information to the effect that the loan can be forgiven after 25 years. Is this true? If so, could I hire you to facilitate it? I can’t get through their phone line. Dear reader, It’s true that there are federal student Read more >
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.
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