I just recently took out a private student loan with a 10.00 APR interest! How long should I wait until trying to refinance the loan? I’m currently working full-time and taking online courses. I have a good to excellent credit score.   Because you’re working full time it’s not out of the question to consider […]

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How can I consolidate my student loans? How do I know if consolidation will be beneficial?   If you want to consolidate your federal student loans you can apply for a Direct Consolidation Loan on the federal aid website.   A couple of things to know about student loan consolidation: Direct Consolidation Loans are only […]

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You might remember all the hubbub last summer about student loan interest rates – they were set to double and everyone pushed on Congress to find a permanent fix. Legislation passed that tied the rates to the 10 year Treasury note yield. In its first year, this left rates at a tolerable 3.86% for undergraduate […]

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Another state is stepping up in the fight against student loans. Illinois has proposed HB 5323, The Higher Education Student Assistance Act, that would help combat debt for state grads and offer them a brighter financial future. The bill’s sponsors wrote into the legislation that it should be modeled on Pennsylvania’s Pay It Forward Pay […]

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We always recommend paying off your student loans as quickly as possible. Not only does this get you out from under the onus of educational debt sooner, but it can save you money and allow you to move on with your life and focus on your debt-free future. But a recent statement issued by the […]

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If you’ve got private student loans in your college debt portfolio and are looking to refinance at more competitive rates, the new offering we’ll discuss today may be of interest to you. The New Hampshire Higher Education Loan Corporation (NHHELC) has launched EDvestinU™ – a private student loan consolidation program (essentially also a refinancing program) – […]

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Subprime lending is defined as “making loans to people who may have difficulty maintaining the repayment schedule.” Although not a hard and fast rule, those with FICO scores of 640 and less are typically the targets of subprime loans. This type of lending is also hallmarked by borrowers that can’t borrow elsewhere – much as […]

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Last week, Democratic Michigan lawmakers proposed sweeping legislation to prevent future college students from getting neck deep in student loan debt. Currently, Michigan graduates have the tenth highest college debt that averages $28,840 per grad according to the Project on Student Debt. 62% of Michigan’s college graduates come out of school owing student loans, but, […]

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For those that can’t afford to pay their student loans, a default can result in garnishment. Default occurs when you fail to make payments for nine months (270 days). Once your loans go into default, serious consequences can occur. First, your loans come due in full. Second, your state and federal tax refunds can be […]

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