Student loan debt in the United States is a growing problem. The Federal Reserve estimates that in the second quarter of 2021, Americans owed a startling $1.73 trillion in student loans. The two most common types of student loans are private and federal. Both types are meant to make higher education more accessible to people. …
Student loans are a major monthly financial commitment for many Americans. The average student loan debt in 2021 is $37,693, and the average monthly payment borrowers are making on student loans is $393. As the cost of higher education continues to rise, financial aid will continue to be a necessary tool for many people to pursue college attendance and middle-class …
The Easy Guide to Student Loan Forgiveness Programs and Options Read More »
Private student loans don’t offer all of the same benefits that federal student loans do, but they’re sometimes necessary, especially for those pursuing post-secondary schooling. If you do find that you can’t cover all of your education expenses with governmental funding, make sure you take the time to find the best private student loans for …
The 16 Best Private Student Loans of January 2021 Read More »
Maybe even more so than other forms of debt, student loans can feel like a shackle around your neck. They linger for years, often with such high balances that it becomes a simple test of endurance to pay them off. Anything you can do to lessen the load and pay them off sooner starts to …
Student Loan Consolidation: When Should You Consider It? Read More »
In 2020, America’s collective outstanding student loan balance reached $1.56 trillion. To put that into perspective, that’s roughly equivalent to the annual GDP of Mexico. And Sweden. Combined. Even when you divide it among the roughly forty-five million people holding these loans, that’s a lot to handle. So for many of those borrowers, student loan …
If paying back your student loans feels like a burden you’ll never escape from, don’t stress – there are options to simplify the process. Refinancing or consolidating your loans may be a strategic move if you’re looking to lower your interest rate, shorten (or lengthen) your payment term, or streamline all of your payments into …
6 Best Student Loan Refinancing / Consolidation Lenders Read More »
Student loan debt in 2021 hit an all-time high of $1.73 trillion, with more than 45 million borrowers owing more than $30,000 each. In 2020, college graduates who took out student loans borrowed an average of $29,927 — about $5,000 more than borrowers from the Class of 2010. While students may have plans to repay …
Can You Go to Jail For Not Paying Student Loans? Read More »
Student loan debt in 2020 is now $1.56 trillion in the United States, with borrowers on average owing $37,172 in debt. Graduates of the most recent class of students leave college with $29,200 in student loans. Student loan debt is the second largest class of consumer debt, behind mortgage debt. For millions of Americans, higher …
