Here’s what you need to know - and what to do about it.What’s wrong with only paying the minimum payment? After all, that’s your obligation, right? Remember: interest is always accruing on your principal balance. So paying any amount more than the monthly minimum can lower the cost of your student loans. For example, let's assume you have $70,000 of student loan debt at a 8% interest rate with a standard 10-year repayment term.
If you decide to apply for a federal student loan forgiveness program, make sure you understand the requirements for student loan forgiveness so you don’t get stuck. The requirements can be tricky.Why would you pay more than you have to? Well, making an extra student loan payment can be one of the best ways to pay off student loans faster.
This is the most nonsensical, fever dream of an article I've ever read. It literally contradicts itself in every single paragraph. I hope Forbes' health plan covers mental health costs, for this author's sake.
1 your own money
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A 28-year-old who paid off $102,000 in student loans used the debt snowball method to 'make her loans fair'She calculated that if she made monthly student loan payments as expected, she would be paying her loans until she was in her mid-50s. You guys act like this is a feel good story. It's fucking shameful. What kind of country makes their population go into tons of debt just to get an education America is not a first world country. Back in the Day it would be a house paid off.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Ways You Can Actually Get Your Student Loans Forgiven TodayWith individual student debt levels increasing year after year, it’s not surprising that many student borrowers are on the hunt for ways to have their loans forgiven. Here are the ways you can actually get your student loans forgiven today.
Source: Forbes - 🏆 394. / 53 Read more »
My student loans ballooned by $46,000, but I'm not sorry - Business InsiderAbout 20 years post-undergrad, it's clear to me that my loans grew from a combination of my poor financial decision-making and a high interest rate CAN'T FIX STUPID. “I invested in my education, which is priceless both in terms of what I learned and the friends I made. “....sums up the student loan debt crisis very well Well, you're an idiot, sorry. Community College system in Ohio is great as I attended Sinclair CC in Dayton and transferred to Santa Barbara City College then got accepted to UC Berkeley while utilizing my GI Bill. Anybody can do 2-years at community college and transfer in-state
Source: BusinessInsider - 🏆 729. / 51 Read more »