Currently Browsing: Education Loans
Credit cards are synonymous with incurring debt, not paying it off. And that’s no coincidence. It’s too easy for credit card users to get into serious debt when their credit card balance accumulates over time. As an unsecured debt that is never tax deductible, the costs of credit card interest payments can be staggering. This is a post for people with student loans who may be able to use credit card rewards to help pay off their loans while using the...
Love ‘em or hate ‘em, millennials are in a tough spot. The New York Times highlighted their predicament twice this week alone: notably in an article about living with student loan debt in New York and an apology to millennials. I myself was pretty darn lucky to graduate just a few years ahead of the millennials; a lucky accident that sent me off on a far better career path than I might have had otherwise. But what about those who weren’t so lucky? What...
Graduation has come and gone, and for many graduates summer is a time to celebrate their big accomplishment and turn their attention to job searches and catching up on time with loved ones. While all of that is important, the distractions and nice weather can make it tempting to forget about student loans. We advise just the opposite. Summer is a great time to think about your loans. While you might be tempted to forget about them until later, there are...
For as long as I can remember, I wanted to be a college professor. I dreamt of days sharing the glories of literature with students and nights toiling away grading papers and writing books. There was just one small thing standing in my way: the meager (if not nonexistent) chance an English Lit PhD actually has of actually becoming a professor. My bubble officially burst one day when my youngest professor took it upon herself to explain the realities of...
Today I’m happy to share Jeena Cho’s story with you. She borrowed over 100k for student loans and she’s figured out a way to knock out her debt. Jeena’s top 4 tips are below. “At 21, borrowing $100,000+ for law school seemed like a no-brainer. After all, once I land that job at that fancy law firm, with my fancy office, with my fancy house, car and wardrobe, earning a six-figure salary, repaying $100,000 should be easy. Right? For the first seven years...
We all know that the expenses that make up the college experience are high… high enough to induce a national student loan debt crisis. But educational spending often starts long before the actual tuition bill arrives. Pre-college costs are not just about buying twin-size bedsheets for the dorm room or a cheap bike for scooting around campus anymore. Parents (and some students) are now pouring money into another funnel: the pre-college standardized...
There are plenty of options when it comes to refinancing a mortgage. Same goes for auto loans. But until fairly recently, refinancing student loan debt was more of an idea than a reality. While a few programs were created to help lower student loan interest rates, these options were limited and mostly geared toward new borrowers. However, there’s now a sliver of good news for those individuals paying off massive student loan debts on high interest rates....
Once you finish college, you are likely to look at all of your student loan payments and sigh: How are you supposed to keep all of them straight? And how can you afford all those monthly payments? This is when many people start weighing the pros and cons of consolidating student loans. Among the inconveniences of student loans is that each loan that you receive for each school year is often considered a different loan — and it has to be repaid...
Have you asked yourself, “Should I consolidate my student loans?” If you have student loans, then you probably have. But it can be hard to know what the right answer is. Consolidation is one of those words that conjures images of simplicity, organization, and perhaps even post-clutter serenity. Instead of a mess of bills, a mess of belongings, or a mess of life, you can simply consolidate and deal with less. In the case of student loans, consolidation...
Generally, student loans are taken out for each year of school — so if you’re in a four-year undergraduate program, you’ll graduate with at least four separate loans, one for each year. (This is when, and why, loan consolidation comes into the picture.) The reason you don’t have to pay on each loan as it is disbursed is something called deferment, which is an option that allows you to temporarily postpone payments on your loans. For certain types of...
Are There Any Credit Card Rewards for Paying Off Student Loans?
Posted on Jan 6, 2026 in Education Loans | 2 comments
Credit cards are synonymous with incurring debt, not paying it off. And that’s no coincidence. It’s too easy for credit card users to get into serious debt when their credit card balance accumulates over time. As an unsecured debt that is never tax deductible, the costs of credit card interest payments can be staggering. This is a post for people with student loans who may be able to use credit card rewards to help pay off their loans while using the...
Obama’s Student Debt Plan: Does It Solve the Core Problem?
Posted on Nov 24, 2025 in Education Loans | 2 comments
Love ‘em or hate ‘em, millennials are in a tough spot. The New York Times highlighted their predicament twice this week alone: notably in an article about living with student loan debt in New York and an apology to millennials. I myself was pretty darn lucky to graduate just a few years ahead of the millennials; a lucky accident that sent me off on a far better career path than I might have had otherwise. But what about those who weren’t so lucky? What...
How to Handle Your First Summer with Student Loans
Posted on May 15, 2025 in Education Loans | 2 comments
Graduation has come and gone, and for many graduates summer is a time to celebrate their big accomplishment and turn their attention to job searches and catching up on time with loved ones. While all of that is important, the distractions and nice weather can make it tempting to forget about student loans. We advise just the opposite. Summer is a great time to think about your loans. While you might be tempted to forget about them until later, there are...
Selling a Dream: The Trouble With For-Profit Education
Posted on Dec 6, 2024 in Education Loans | 2 comments
For as long as I can remember, I wanted to be a college professor. I dreamt of days sharing the glories of literature with students and nights toiling away grading papers and writing books. There was just one small thing standing in my way: the meager (if not nonexistent) chance an English Lit PhD actually has of actually becoming a professor. My bubble officially burst one day when my youngest professor took it upon herself to explain the realities of...
Over 100k in Student Loans – How We Paid Off 50k in 2 Years!
Posted on Feb 2, 2024 in Education Loans | 2 comments
Today I’m happy to share Jeena Cho’s story with you. She borrowed over 100k for student loans and she’s figured out a way to knock out her debt. Jeena’s top 4 tips are below. “At 21, borrowing $100,000+ for law school seemed like a no-brainer. After all, once I land that job at that fancy law firm, with my fancy office, with my fancy house, car and wardrobe, earning a six-figure salary, repaying $100,000 should be easy. Right? For the first seven years...
Another Addition To the Education Tab: Pre-College Costs
Posted on Jul 13, 2023 in Education Loans | 2 comments
We all know that the expenses that make up the college experience are high… high enough to induce a national student loan debt crisis. But educational spending often starts long before the actual tuition bill arrives. Pre-college costs are not just about buying twin-size bedsheets for the dorm room or a cheap bike for scooting around campus anymore. Parents (and some students) are now pouring money into another funnel: the pre-college standardized...
Is It Getting Easier to Refinance Student Loans?
Posted on Mar 4, 2023 in Education Loans | 2 comments
There are plenty of options when it comes to refinancing a mortgage. Same goes for auto loans. But until fairly recently, refinancing student loan debt was more of an idea than a reality. While a few programs were created to help lower student loan interest rates, these options were limited and mostly geared toward new borrowers. However, there’s now a sliver of good news for those individuals paying off massive student loan debts on high interest rates....
Pros and Cons of Consolidating Student Loans
Posted on Nov 22, 2022 in Education Loans | Comments Off on Pros and Cons of Consolidating Student Loans
Once you finish college, you are likely to look at all of your student loan payments and sigh: How are you supposed to keep all of them straight? And how can you afford all those monthly payments? This is when many people start weighing the pros and cons of consolidating student loans. Among the inconveniences of student loans is that each loan that you receive for each school year is often considered a different loan — and it has to be repaid...
Should I Consolidate My Student Loans?
Posted on Sep 21, 2022 in Education Loans | Comments Off on Should I Consolidate My Student Loans?
Have you asked yourself, “Should I consolidate my student loans?” If you have student loans, then you probably have. But it can be hard to know what the right answer is. Consolidation is one of those words that conjures images of simplicity, organization, and perhaps even post-clutter serenity. Instead of a mess of bills, a mess of belongings, or a mess of life, you can simply consolidate and deal with less. In the case of student loans, consolidation...
Should I Defer My Student Loans?
Posted on Jul 16, 2022 in Education Loans | Comments Off on Should I Defer My Student Loans?
Generally, student loans are taken out for each year of school — so if you’re in a four-year undergraduate program, you’ll graduate with at least four separate loans, one for each year. (This is when, and why, loan consolidation comes into the picture.) The reason you don’t have to pay on each loan as it is disbursed is something called deferment, which is an option that allows you to temporarily postpone payments on your loans. For certain types of...
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