What are Defaulted Student loans?
Defaulted on student loans is when you stop making your loan payments. Sure, there are times late payments are made, but not making any payments places you in default status. Unfortunately, there are serious consequences when defaulting on a student loan. The school you attended guaranteed the loan. Whether you have a private loan or […]
Can Paying off Your Student Loans Lower Your Credit Score?
Believe it or not, paying off your student loans completely can actually lower your credit score. Millions of people are in debt with student loans. The government kind of went a little trigger-happy in regards to student loans. Higher education is supposed to be a desirable investment, so the government decided to give just about […]
Unpaid Student Loans Can Cost You Your Job!
A hospital in Tennessee found itself grossly understaffed when they had to send 40 nurses home in one day because they all lost their licenses to work due to unpaid student loans. A lawyer in New York got stripped of his license for the same reason. All of these people have defaulted on their unpaid […]
First-Year College Students Fail Literacy Tests
Of all the life skills that someone entering adulthood could lack, that financial literacy tests tend to hit hardest. Higher One and EverFi came out with a report called “Money Matters on Campus.” They felt an alarming disconnect between adults who were taking out loans for college and the skills needed to handle it. The […]
Five Financial Barriers Millennials Are Facing Today
When you’re in your early 20s and about to graduate college, you have a lot of ahead of you. You may be trying to start a family, buy a car or even have trouble renting an apartment. You may be getting ready to experience a decade of living paycheck to paycheck just to put a […]
How Student Loans Are Ruining Students and Taxpayers Alike
Our national debt is growing at a phenomenal rate. We are already at $1.2 trillion and counting. Time doesn’t seem to be solving the issue. Every year, the issue as a whole appears to be getting worse and worse. The graduating class of 2014 has average student loans debt of over $33,000. The 2015 numbers […]
Retirement Issues You May Be Facing Today: Student Loan Debt in Retirement
Hitting the age of retirement is something most people look forward to. After spending an entire adult life working to afford a place to live, food to eat, a car to drive, and maybe a yearly vacation. The thought of not having to be beholden to “the man” day in and day out is appealing. […]
How Student Loan Debt Can Prevent from Buying a House or Car?- Facts
The facts about the cost of a college degree these days can be daunting, especially if you are like most people and can’t afford to pay student loan debt for it outright. Over the past couple of decades, we have seen a decline in the economy and a rise in unemployment, yet one thing that […]
10 Reasons Why You’ll Stay in Student Loans Debt Longer Than You Think
At the time you took on that student loans debt or opened that credit card account, you vowed to be financially responsible. Each payment would be made on time. You would never borrow more than you can afford to pay back student loans. Then life happens, and you now find yourself under a mountain of […]
These Five Myths Can Keep You In Student Loan Debt Longer
Everyone wants to be financially stable and free of debt. There are many financial dos and don’ts that people assume are always right, but unfortunately, that’s not the case. Blindly following financial rules of thumb is never a good idea. Doing so could actually put you into more debt than you are already in. These […]