3 Ways Parents May Accidentally Harm Their Child’s Credit

Credit Score

3 Ways Parents May Accidentally Harm Their Child’s Credit

3 Ways Parents May Accidentally Harm Their Child’s Credit

It’s possible, and sometimes common, for teens and young adults to unknowingly damage their credit, as they aren’t fully aware of how their spending habits are truly affecting them. But sometimes it can go a step beyond youthful mistakes and parents are the ones ultimately prompting the damage to their child’s credit. (You and your... Read More

5 Reasons Why You Might Not Want to Refinance Your Federal Student Loans

Students

5 Reasons Why You Might Not Want to Refinance Your Federal Student Loans

5 Reasons Why You Might Not Want to Refinance Your Federal Student Loans

Many private student lenders are making a big push for a piece of the student loan refinancing pie. Banks and venture capital-backed nonbank financial services companies are hard at work slicing and dicing that trillion-dollar market into bite-size, demographically based refinancing opportunities. Their primary targets? Borrowers who have the best longer-term earnings potential because of... Read More

Do the New Student Loan Servicing Rules Go Far Enough?

Students

Do the New Student Loan Servicing Rules Go Far Enough?

Do the New Student Loan Servicing Rules Go Far Enough?

Last month, the Department of Education announced a new set of directives to target systemic problems that have plagued federal loan servicing for years. Will the new recommendations help, or will they end up being just another stack of papers piled on to an already labyrinthine federal loan bureaucracy? How Borrowers Are Shortchanged One of the main... Read More

6 Student Loan Mistakes to Avoid at All Costs

Students

6 Student Loan Mistakes to Avoid at All Costs

6 Student Loan Mistakes to Avoid at All Costs

Every time I read the news, I hear how America’s problems with student loan debt have gotten worse. For example, I learned recently that collective student loan debt surged to over $1.4 trillion nationally. And in an article in the Wall Street Journal, I learned that more than 7 million student borrowers were at least one year behind on... Read More

The Student Loan Default Rate Is Way Worse Than You Think

Students

The Student Loan Default Rate Is Way Worse Than You Think

The Student Loan Default Rate Is Way Worse Than You Think

The Wall Street Journal’s Josh Mitchell recently authored an article in which he calls attention to the roughly 16% student loan debt default rate, as measured in terms of number of borrowers. That data point, by itself, is extraordinarily high. In proper context, it’s calamitous. At $125 billion in aggregate value, these defaulted loans represent... Read More

Your Amazon Account Could Get You a Lower Rate on Your Student Loans

Students

Your Amazon Account Could Get You a Lower Rate on Your Student Loans

Your Amazon Account Could Get You a Lower Rate on Your Student Loans

Wells Fargo is sweetening the deal on its private student loans for members of Amazon Prime Student, both companies announced Wednesday. Amazon Prime Student members who apply for any of Wells Fargo’s private student loan products are eligible for a 0.50% interest rate discount, according to the bank’s site. Members can also get a 0.25% interest rate reduction for enrolling... Read More

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