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Should You Refinance Your Student Loans?

Should You Refinance Your Student Loans? Student loan debt has surpassed $1.2 trillion, ticking up several thousand dollars per second, according to FinAid.org. For recent graduates entering the workforce, the average loan for a bachelor’s degree amounts to more than $35,000. Failure to repay can lower credit scores and lead to garnished wages and legal action; this debt can’t be eliminated through bankruptcy. One way to make loans easier to manage, and potentially decrease the...

Student Loan Grace Periods are NOT Going Away

Student Loan Grace Periods are NOT Going Away You may have recently heard a bit of false news: that there will be no more grace periods on student loans. Despite the fact that the Chicago Tribune ran a headline to that effect on Thursday of last week, it’s actually not true. The truth is that that interest will now begin accumulating on student loans sooner, but the “grace period” that postpones any required payments until 6 months after graduation has not been eliminated. The inaccurate story began...

5 Ways to Prioritize Your Student Loan Payments

5 Ways to Prioritize Your Student Loan Payments when people are moving to the more “balanced” stage of their lives, their 30s, loan repayments still aren’t always top of mind. When you have a robust social life, savings goals, vacation plans, rent payments and a bad Seamless or Uber habit, it’s easy to forget that student loan payments should remain a financial priority. As someone who has learned the hard way but managed to turn it around, below are five tips to help you stay...

Paying Off Student Loan Debt: It’s Time to Make a Plan

Paying Off Student Loan Debt: It’s Time to Make a Plan If you’re struggling to pay back student loans, you’re in good company. Americans owe a total of almost $1.129 trillion in student loans. Those figures can be pretty intimidating for recent graduates, especially those who haven’t yet found a job. So how can you pay off loans quickly and on time, avoiding the dark waters of default? Here are some tips. 1. Get organized It’s important to know to whom you owe what, and to chart a course for paying it off....

Does Student Loan Debt Hurt Your Credit Score?

Does Student Loan Debt Hurt Your Credit Score? Dominique Brown is the author of YourFinancesSimplified and InsiderRealEstateTips. He writes about “whatever he pleases” and today he wanted to write about credit and student loans. First: A Definition of “Credit Score” As you probably know, your credit score is the result of a complicated calculation. To get your credit score, the credit bureaus inspect five different areas of your financial situation including: HISTORY: Do you pay your bills on time,...

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