If you have federal student loans, you actually have numerous options from which to choose in order to repay those college debts. All of the payment plans generally range from as few as 10 years to as long as 25 years. The exact term and the repayment plan options that are granted to you depend on the type of loan you have.
As of October 1, 2023, the payment pause that had been in effect for federal student loans ended. That means millions of borrowers who had not been making any federal student loan payments during the pandemic now have to think about another major expense in their budget. According to the Federal Reserve Bank of New […]
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Here’s what is known so far about the new student loan cancellation program, how you can get student loan forgiveness, the surprising ways that past and future generations of college students will benefit, and what’s NOT included in the Biden plan.
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New rules let borrowers skip two months of federal student loan payments. Transcript Lynnette Khalfani Cox: Here’s some good news for those of you out there who’ve been making student loan payments. The federal government just announced a suspension of all federal student loan payments for the next 60 days, and they’re waiving the interest
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Seven out of 10 college graduates in the U.S. have student loans, and if you’re one of them – or if you’ll need to borrow soon for higher education – you should know your loan options. In the student loan market, there are two main types of loans: federal student loans and private student loans.
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The average U.S. college graduate comes out of school with more than $25,000 in student loan debt, according to the College Board. And collectively, student loan debt in the U.S. now tops $1 trillion – surpassing the amount of credit card debt Americans owe. So paying off student loans is one of the most daunting
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If you have to borrow money to help pay for college, you need to understand the differences between private student loans and federal student loans. Taking the time to understand what types of loans are available, and what your responsibilities are for paying back those loans, can help you make the most informed decisions about
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Unless you or your child has earned scholarships offering a full-ride for college, or you’re able to pay for school with your own funds, you’ll probably have to apply for financial aid or some type of college loan. After you complete your Free Application for Federal Student Aid (FAFSA), your college will send you a
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If you’re finding it difficult to keep up with your student loan payments, refinancing your student loans could help to reduce those monthly bills. A student loan refinancing usually occurs in one of three ways:
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Q: My Student Loan is In Collections. What Steps Can I Take To Remedy This Situation? A: You did not state whether you are struggling with federal student loans or private loans. Whatever the case, I believe the article I’ve written below answers your question about how to handle student loans in collection. Essentially, you
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