"Student loans are by far the most regretful thing I have ever done.""I have children. $200 every month is critical."
You've probably been told that now is a good time to refinance your loans — but that only works if you have a great credit score and steady income. Senator Joe Biden's plan would eliminate payments for those earning less than $25,000 a year, cap payments at 5% of discretionary income for everyone else, and forgive remaining balances after 20 years.
This mountain of student debt isn't just delaying major financial milestones. It's affecting the ability of debt holders to save at all.
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Good debt vs. bad debt: Why what you've been told is probably wrongThe idea that student loans and mortgages are in a category of good debt because they can increase wealth and income, while credit cards are 'bad' debt, is a risky oversimplification.
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A millennial paid off $48,000 of student loans with 3 steps - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 1. Get a useful degree 2. Work hard and have a good attitude 3. Make wise financial decisions itisntrocketscience Step 1) Make money Step 2) Don’t blow it on Starbucks Step 3) Pay off loans Make more. Spend less. Go to a state school. Saved you a click.
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