Student loans are loans that people take out when they are going to college or private schools. To get a good interest rate on a student loan you need a good credit score. To apply for student loans you need to fill out forms from the lender, the university and the federal government. It’s important to understand how much money you’re borrowing, at what interest rate and how long you have to pay back that student loan. Student loans cannot be discharged in a bankruptcy.
The college years are an exciting and difficult time: From tuition payments to Free Application for Federal Student Aid (FAFSA) forms to full or part-time employment, college may be the first time young adults are in charge of their own finances. With more financial freedom comes added responsibility, including a duty to pay Uncle Sam. [...]
Plenty of people know the anxiety of overbearing debt. According to one source, households in the United States average $15,422 in credit card debt; $34,703 in student loan debt; and $149,782 in mortgage debt. With all of that pressure, many people think it’s impossible to improve their financial situations. However, with some work and smart [...]
Continuing constraints in our capital markets have posed challenges for students and student lenders throughout the last year. We recognize that educa...
Today on the Clark Howard Show, Ilyce Glink filled in. She discussed whether creditors may reveal personal information to others, why seller-financed third-party down payment programs (like Nehemiah) have been eliminated under the new housing bill, how much housing prices fell in the past month, covered bonds, the elimination of certain chemicals from children's toys, and updated travel news. She took calls on building an emergency fund (by decreasing a contribution to 401(k) plans), veterans buying houses, paying off and consolidating student loans, hardship 401(k) withdrawals, construction loans, money merge accounts, whether to pursue a contractor who has gone belly up, rehabbing a foreclosed home, whole life vs. term life insurance, and how to negotiate with a bank that charged $2,900 in overdraft fees for 135 $1 checks that were overdrawn in the account. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. And be sure to subscribe to her YouTube channel.
More Americans filed for bankruptcy in the first half of 2008 compared to the first half of 2007. The American Bankruptcy Institute announced that fi...
A parent asks about the cost of college tuition and about having a student start at a community college. Because the cost of college tuition is so high it's a good idea to start out at a less well known school and transfer. When a student goes to a big name school, she may be taking on $50,000 to $100,000 in debt for college (not including graduate school costs). She'll have a $700 to $1,000 per month headache to deal with after graduation. That's after taxes, and after she pays for her rent, utilities, cell phone, car, gas and food.