The Surprising Reasons You Could Lose Out on Student Loans

Students

The Surprising Reasons You Could Lose Out on Student Loans

The Surprising Reasons You Could Lose Out on Student Loans

Here’s something you won’t hear often – or ever: “Student loans are a privilege.” (I Googled it: Six results.) Considering loans make it possible for millions of people to get a college education, they’re something to be thankful for. Yes, college can be ridiculously expensive, loans often don’t cover all the costs and unaffordable debt is a… Read More

Sen. Rubio Proposes New Student Loan Forgiveness Plan

Students

Sen. Rubio Proposes New Student Loan Forgiveness Plan

Sen. Rubio Proposes New Student Loan Forgiveness Plan

There’s a new bill in the Senate aimed at making student loan payments more affordable. Sens. Marco Rubio (R-Fla.) and Mark R. Warner (D-Va.) introduced the Dynamic Student Loan Repayment Act on July 16, which proposes an automatic income-based adjustment to monthly payments for loans exceeding $10,000. The effort follows last month’s unsuccessful attempt by… Read More

How My Student Loans Ballooned From $8K to $36K

Students

How My Student Loans Ballooned From $8K to $36K

How My Student Loans Ballooned From $8K to $36K

Confusion over student loan payments left an Arizona woman owing nearly five times the amount she took out to finance her education, though she insists she repaid the balances years ago, KTVK-3TV reports. Michelle Hudman took out three loans totaling $8,400 in the 1980s. As she explained to a local reporter, Hudman repaid one loan… Read More

President Obama to Students: Be Smart, Not Cynical

Students

President Obama to Students: Be Smart, Not Cynical

President Obama to Students: Be Smart, Not Cynical

President Barack Obama joined David Karp, the founder of Tumblr, for a live chat about student debt Tuesday. One-third of Americans who applied for an educational loan this year also have a Tumblr account, said Karp, who fielded questions about educational costs submitted by Tumblr users. Here’s what POTUS had to say to today’s students. My… Read More

Is It Too Late to Get College Scholarships?

Students

Is It Too Late to Get College Scholarships?

Is It Too Late to Get College Scholarships?

There are three ways to pay for college: save money, borrow money or hope someone gives you money. At this point, people attending college in the fall are past the point of being able to save much for tuition, and going into debt isn’t an attractive alternative. It would be pretty sweet to have someone… Read More

What Was the First Student Loan?

Students

What Was the First Student Loan?

What Was the First Student Loan?

I don’t know about you, but I have a love-hate relationship with Facebook — it’s helpful but also really annoying, and even though it enables me to discover new things, it’s a major drain on my resources. I feel the same way about my student loans. Fun fact: Both started at Harvard University. I guess… Read More

Can You Get Out From Under a Co-Signed Loan?

Personal Finance

Can You Get Out From Under a Co-Signed Loan?

Can You Get Out From Under a Co-Signed Loan?

I recently answered a question about co-signing a lease (“Should I Co-Sign My College Freshman Son’s Lease?“). In that article, I said that co-signing a lease, or anything else, is typically a terrible idea. Perhaps it was that advice that prompted this recent question: Dear Stacy, I had to co-sign my daughter’s college loans. She… Read More

Scoring Sallie Mae: How Student Loan Servicers are Rated

Students

Scoring Sallie Mae: How Student Loan Servicers are Rated

Scoring Sallie Mae: How Student Loan Servicers are Rated

While customer service isn’t the first thing people associate with student loan servicers, it has a large role in determining how much business servicers get from the government. Each quarter, the Department of Education issues a performance report on Direct Loan servicers, and it released the final report of the 2012-2013 year in August. An… Read More

This Week in Credit News: Student Loan Woes

Personal Finance

This Week in Credit News: Student Loan Woes

This Week in Credit News: Student Loan Woes

The biggest credit news this week is all about student loan interest rates and debt as thousands of Americans graduate college and face the reality of their student loan payments. How to Pay Student Loans You Can’t Afford Once the six-month grace period that most student loan borrowers have expires, they’re faced with a choice… Read More

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