Even though retiring is the furthest thing from the minds of most twenty-somethings, you need to invest sooner, rather than later for one reason – you have an advantage over everyone else: time. Time to let your money grow exponentially. There is a reason Albert Einstein is credited with calling compound interest “the 8th wonder
Student Loans
Your credit score is one of the most important factors that lenders review when deciding whether to extend credit to you – but it’s not the only factor. It’s possible to get a loan with a poor credit score and be denied a loan with a good credit score based on other considerations.
Your credit
Congratulations! Your family will soon be blessed with your first child. You’re on your way to a lifetime of cherished memories – and a whole new series of financial challenges.
From bringing them into the world to sending them off to the working world, children are one of the largest expenses of your lifetime. According
You finally made it through college and graduated with a degree, a new set of friends, great memories, and most likely a significant amount of student loan debt. How can you manage paying such a substantial debt on a starting salary (assuming you were fortunate enough to find a job at all)? It is not
Congratulations! You’ve made it through college and are looking forward to using your new skills in the real world. Here’s our gift to help you start your journey – a copy of your credit report.
If you aren’t familiar with your credit report and how it works, now’s the time to check it out.
Total student debt in America is almost $1.5 trillion, while the average person with education debt in 2018 owed between $20,000 and $24,999. This massive debt load threatens the ability of recent and future graduates to reach their goals of home ownership and economic independence.
How can you successfully get your children through college without
Chances are that if you have student loans, you need every bit of extra cash that you can get. Did you realize that your student loans might be able to generate some cash for you?
Under certain circumstances, you may be able to save on your tax bill by deducting the interest that you pay
No More Collegiate Debt Could the next drag on America’s economy come from student loans?According to StudentLoanHero.com, America’s student loan debt burden hit $1.56 trillion – more than any other kind of household debt except for mortgages.
Student loans are one of the most pervasive debts. The Department of Education offers assistance programs, but participants
According to the New York Fed’s latest Quarterly Report on Household Debt and Credit, America’s student loan debt burden has reached a staggering $1.44 trillion as of September 2018. Has that burden kept younger Americans from buying homes?
A new Federal Reserve study suggests that educational debt isn’t the primary reason for the homeownership decline,
By Amy Beardsley
When it comes to student debt, more than half of borrowers are struggling to make their payments. Refinancing your student loan is an excellent option to lower your monthly bill or to pay less interest over the life of your loan.
Even though refinancing could make student loan debt more manageable, the
Debt is a major barrier to financial well-being among Americans. While we tend to think of debt as an issue affecting young and middle-aged people, the truth is that senior citizens carry debt, too. Among seniors approaching retirement, debt can be an obstacle to maximizing savings. Retirees living on a reduced income may find debt
Student loan debt in America has topped $1.5 trillion dollars, and millennials hold a large amount of that debt burden. As of 2017, 37.5% of Americans with student loan debt were under the age of thirty.
A new study by MagnifyMoney highlights the difficulties millennials face because of their debt. Since student debt draws money
By Roshni Chowdhry, head of customer experience at SafetyNet
Of the 17 million Americans currently enrolled in college, 74 percent qualify as what we used to call “nontraditional” students:
One in five is 30 years or older.
About half don’t rely on their parents for money.
One quarter are caring for a
According to Federal Reserve data, student loan debt has surpassed $1.5 trillion and comprises 11% of America’s collective household debt balance – second only to mortgage debt. More than 44 million Americans have student loan debt, with an average balance of around $33,000.
Given those statistics, you might expect student loans to be the biggest
America’s cumulative student loan debt has topped $1.5 trillion, surpassing credit card debt as the second greatest debt burden behind mortgages. How will we pay it off? A study by the Brookings Institution suggests that approximately 40% of Americans won’t be able to pay off their loans and will end up in default by 2023.
“I raised my credit score over 800 – and you can, too!” So says Tiffany Aliche, a financial speaker and author better known as The Budgetnista.
Tiffany was working as a schoolteacher, and had excellent credit, until she lost her job in the Great Recession. “I had a choice between paying my mortgage
According to Federal Reserve Data, student loan debt reached $1.52 trillion in March of 2018. Women hold approximately $900 billion of that total.
Why do women hold more in student loan balances? A recently updated report from the American Association of University Women (AAUW) suggests that several reasons combine to shift the student loan burden
Your credit score is one of the primary items that lenders check when they consider loaning you money. A lower score means greater risk, and lenders will charge you a higher interest rate because of that difference – but how much could it cost you over the lifetime of a loan?
According to a new
Waiting to Buy According to a new study by the Urban Institute, millennials are waiting longer than previous generations to enter the housing market. Approximately 8% fewer millennials of ages 25-34 own homes as compared to baby boomers and generation Xers at the same point in their lives.
Why are millennials late to homeownership? The
Does your student loan situation look hopeless? Don’t give up hope yet. Consider these alternative repayment programs that can provide manageable loan payments and lead to forgiveness of a portion of your loan in exchange for some form of service.
1. Public Service Loan Forgiveness (PSLF) Program – As it stands, the PSLF program allows
It’s not uncommon for companies to help with tuition payments for their employees who are continuing their education, especially if they are working toward a professional degree that will help them in their job or with future advancements in the firm. Such a program can be a great recruiting tool.
Unfortunately, these programs do not
America’s total student loan balance has topped $1.5 trillion, according to recent Federal Reserve data. Default rates on student loans are at 11%. While the job market has improved for recent graduates, many are struggling with excessive debt (over $39,000 at graduation on average) and entry-level jobs that make repayment difficult.
Enter an alternative
According to the G.19 Consumer Credit Report recently released by the Federal Reserve, America’s total student loan debt has topped $1.5 billion – and we are having trouble paying off that debt. At of the end of 2017, a whopping 11% of student loans were either ninety days delinquent or in default.
The Department
As a nation, America’s student debt load is reaching crisis proportions. The New York Federal Reserve puts the total student loan debt at over $1.52 trillion, with the delinquency rate over 11%.
Is your personal student loan situation nearing a similar crisis? Consider these five warning signs to assess whether you are handling your student
A student loan can be your best friend or your worst nightmare. It can lead to an advanced degree that leads to a better job with higher pay and superior benefits. It can also be a millstone of debt keeping you from fulfilling other life goals – such as owning a home.
A recent
America’s outstanding student loan debt reached $1.52 trillion in the first quarter of 2018, according to information from the New York Fed. Have you ever wondered whether a significant amount of that debt is located in your city – or even in your zip code? Wonder no more.
The Mapping Student Debt Project at the
You anticipated a large refund on your taxes to pay off some bills and put some money away in a rainy-day fund. Unfortunately, the money never showed up. What happened?
Your refund may have gone toward an unpaid bill selected by the government – your unpaid student loan.
Your federal student loan is
Congratulations! You made it through college armed with a degree, and hopefully a job. Now it’s time to move on to the next stage of your education: life. The tests are all open book, the deadlines are varied, and some lessons are much harder and carry higher stakes than others do. Worst of all –
Are you having difficulties paying off your student loan debt? If you don’t qualify for other methods of help, refinancing your student loan might be a suitable option. Consider these seven questions to see if refinancing makes sense in your case.
1. What Are You Trying to Achieve? – Are you trying to reduce monthly
We know the stereotype of the unmotivated millennial, living at home with their parents without any long-term plan or concern about their situation. Is that a fair representation? Do millennials disproportionately live with their parents? If so, is this from necessity, lack of motivation, or part of a grander strategy?
It’s logical that younger generations