Our Credit.com experts provide you with common sense student loan advice. Find out what to consider & how to get the best deals when shopping for loans or credit cards to finance college. Understand the impact of deferring student loans, how to manage your payments during college and post-college and how student loans can affect your credit.
Q. I’m having a disagreement with my son about college. He got into the three he liked best with scholarships — we don’t think we will qualify for federal aid but we will apply anyway. The one he likes best will cost about $9,000 more per year than the other two, and that’s money we... Read More
There are a lot of creative ways to make an extra buck. Unfortunately for Emerson College sophomore Jack Worth, his way may have been a little too creative. Hoping to help offset college expenses, Worth, 19, posted his dorm room on Airbnb, boasting the private room offered “sweeping views of Boston Common, right in the... Read More
My wife and I were watching a news program the other day when a commercial for a prescription medicine piqued my interest. The drug was designed to treat an ailment that, as it turns out, comes from taking another prescription medicine made to treat something else. The absurdity of that inspired me to think about... Read More
Thousands of student loan borrowers have applied to have their debts forgiven under a vague, rarely used federal law, and the government isn’t really sure what to do about it. The law allows borrowers to apply for loan forgiveness if they can prove their schools used illegal tactics to recruit them, but the statute is... Read More
There’s been a lot of talk about citizenship so far during this presidential campaign season: specifically, the rights, responsibilities and privileges that inure to those who are naturally born or otherwise enjoy documented legal status, versus those who have taken up residency unlawfully. What has to this point gone unmentioned, however, is the extent to... Read More
Q: Our youngest son just graduated from film school, and while he looks for full-time work, he’s doing some project work in the industry. He has federal student loans but also $94,000 in private loans with a $850 monthly tab. It has a 14-year payback term with no option to extend. He could put it in... Read More
Families or individuals sometimes want to tap retirement assets in an Individual Retirement Account (or IRA) to pay for educational expenses. This has become even more attractive recently, as the rules governing both traditional IRAs and Roth IRAs have been changed to allow withdrawals for qualified higher education expenses. The tax treatment of the funds used to pay for... Read More
For a supposedly joyful time of year, the holidays can be pretty unpleasant for some people. They can be particularly brutal during family gatherings, when you’ll inevitably find yourself stuck in a conversation with THAT relative. You know the one I’m talking about (and you’re lucky if there’s only one): The aunt who seems to... Read More
At the end of October, the Department of Education finalized changes to a common student loan repayment program, extending the benefit to 5 million more student loan borrowers who didn’t previously qualify for it. The Revised Pay As You Earn Program (REPAYE) became available Dec. 17 and allows anyone with a federal Direct loan to... Read More
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