Most students (and their parents) who borrow know that their loans need to be repaid, but they often don’t know how to repay them. Here is a good summary of what you need to know. Perhaps most important: the loan servicer needs your address.
Since 2013, interest rates on federal student loans are tied to the financial markets, specifically the yield of the 10-year Treasury note yield at its May auction. With the yield 0.37% lower than a year ago, interest rates on federal loans have also gone down by that amount. Continue reading Student Loan Interest Rates Head Lower for 2015-2016
Not a lot of surprises here. For those with a student heading off to college this fall, remember the rule of thumb: keep your student loan debt to less than your projected first-year salary.
With college graduations starting to take place, many students who have borrowed to pay for college are entering the 6-month “grace period” on their student loans. During this time, no payments are required. Woo hoo, right? Continue reading Student Loan Payments During the Grace Period
Robert Farrington of The College Investor has a great intro to student loans article here. If you or your student intends to borrow for college and you’re new to the process, it’s a must-read. One of the key points he makes cannot be repeated often enough: With a student loan, YOU are the collateral. As long as you are alive and kicking, you are required to repay the debt.
Once again, the BLS’ jobs report shows why college is a good investment, not just for individual students but for society as a whole. The April jobs report, released today, showed a rebound in job creation and further evidence of a consistent issue: Earning a college degree is the best insurance against unemployment. Continue reading BLS April Jobs Report Shows Benefits of College
Going back through this blog in an attempt to semi-organize it, I realized I never gave an overview of 529 plans and how they work. That would probably explain all the questions I get about them. So, here are some 529 plan basics. Continue reading 529 Plans: The Basics