Ask The Money Coach

Archive for the ‘Uncategorized’ Category

Higher education costs in the U.S. are increasing. State funding to aid college students is on the decline. And a growing number of university and college students in America are taking on loans to foot their tuition bills and other expenses. Add it all up and the results are scary: In addition to racking up massive amounts of credit card debt, college students in the U.S. are now graduating with record levels of student loans as well.

Nationwide, the median student loan debt for undergraduates currently stands at close to $20,000. Those who attend graduate school wind up with an additional $32,000 in debt on average, according to Nellie Mae, the nations largest student loan provider. The upside to all this debt is that people with Bachelors or graduate and professional degrees stand to earn substantially greater incomes than those without degrees. In the meantime, though, millions of people like you still need help in managing those enormous student loans.

In this session you’ll learn:

• How student loans impact your credit
• How to bring past-due loans out of default status in 3 months or less
• The ins and outs of loan rehabilitation programs
• Whether you’re eligible for a student loan cancellation and may not even know it
• How to seek and get a deferment on repaying student loans
• When to request forbearance
• How to ease your financial burdens with a graduated repayment program
• How to get your lender to agree to an extended repayment option
• The pros and cons of paying loans based on an income contingent plan
• When to consider student loan consolidation and MORE!

Length – 60 minutes

Format MP3 Audio - Click to download for just $5.99

Related articles by Zemanta

• College grads take extreme measures to repay student loans (walletpop.com)
• Alternative Ways To Pay Off Your Student Loan Debt (PHOTOS) (huffingtonpost.com)

A subscriber to AskTheMoneyCoach.com can’t afford their house. They want to know if a short sale or a deed in lieu of foreclosure will be less damaging to their credit than a full blown foreclosure?

The short answer is no, all three are equally damaging to your credit rating.  Click the link to this video on ABC News Now to find out why.

Gov’t Aims to Help More “Underwater” Homeowners (abcnews.go.com)

Q: I am with a credit union with which I have applied for a refinance
auto loan. Both times I have been denied. My credit score shouldn’t be
that bad, I did have my car repo last october but before and after
that all payments have been up to date. I also have a school loan that
is up to date with payments. Those loans and an apartment I am renting
should be the only major debt that I have. What can I do to help me
lower my 15.7% interest rate because the lender won’t do it?

A: You need to pull a copy of your three bureau credit report and get your FICO score.
This way you will have a complete and accurate snapshot of your credit standing.

Related articles by Zemanta

• What Happens if You Close a Credit Card? (theatlantic.com)
• What You Should Know About Your Credit Score (abcnews.go.com)

Image via Wikipedia

The April 15 deadline for filing taxes is fast approaching. For last-minute tax tips that should make filing a little less painful click now to listen to Lynnette’s advice during an interview with NPR’s Michel Martin.

Image by purpleslog via Flickr

Please fill in the required fields below, submit your question, then follow the instructions on the next screen in order to subscribe to this blog and get a response to your question. Your personal information will NOT be shared with anyone.

*(denotes required field)

Username: *

E-Mail Address: *

E-Mail Address again: *

Please enter your E-mail Address a second time.

First Name *

Last Name *

Do you want to receive our free newsletter via email (enter Yes or No) *

Subject: *

Message: *

CAPTCHA Code: *

Powered by Fast and Secure Contact Form