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 >
It’s great to think big with your New Year’s resolution, like saying you’ll pay off your student loans in 2019. But a goal that big often doesn’t even make it to the end of January. Instead of letting an unrealistic resolution frustrate you, focus on a small change that moves the needle for your student Read more >
Facing more than $80,000 in student loan debt, Tiffany Tatafu did what thousands of other student loan borrowers do: She searched for answers on her phone. The single mother of two had heard that as a public employee, she could be eligible for student loan forgiveness. She’d landed job as a student support coordinator at Read more >
Q. I’m a physician working in critical access hospitals within the Indian Health Service as an independent contractor. Do I qualify for the PSLF? How do I apply for it? Dear Reader, As an independent contractor you would not qualify for Public Service Loan Forgiveness because you do not satisfy the employment eligibility 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.
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.
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
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, 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.
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