Public Service Loan Forgiveness is a great concept that suffers from terrible implementation. On the surface it sounds straightforward enough: Work 10 years in the public or non-profit sector, make payments on your student loan for those 10 years, and any balance remaining is forgiven. In theory, loan forgiveness after 10 years would make it possible for individuals to pursue…
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The College Board’s annual Trends in College Pricing and Student Aid report was released recently. Among the headline findings: college tuition prices increased at extremely low rates for the second year in a row, reflecting both a combination of continued impacts of the pandemic and enrollment pressures from demographic trends. Average net prices, adjusted for inflation, are at the lowest…
The FAFSA itself won’t be available until Oct. 1, but in the meantime you can download the EFC Formula Guide to see how the sausage gets made. If you are a parent of a high school senior who will be completing the FAFSA this fall for whom the cost of college is important, here is a suggestion for how to…
More than 90% of student loans are federal loans, and with good reason: the federal student loan programs are broadly accessible and have a range of borrower protections. However, some borrowers choose private student loans either to borrow or to refinance. A smaller share of families use non-education loans such as home equity lines or 401k loans to pay for…
Families who borrow for college have a lot of choices: federal or private student loans, personal loans, home equity loans, 401k loans… How do you decide? Let’s look at pros and cons of some of these, starting with the federal loan programs. Federal direct loans– whether student or parent loans– have a number of benefits: Fixed interest rates Income-driven repayment…