Student Loan Debt
News and information about U.S. government student loans and student loan consolidation. Site features the Internet’s premier, regularly updated student loan debt blog.
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EDITORIAL: Just Because College Is Expensive, It Doesn’t Mean That You Shouldn’t Have To Pay For It.
As I was listening to The Rush Limbaugh Show yesterday, I heard a sound byte of Senator Obama and a young college student who was a little disgruntled about the cost of her education. Obama agreed that what she was experiencing wasn’t fair, and of course, went on to give his typical encouragement blurb about change, hope, or what have you. Limbaugh came back to rant about how Obama doesn’t think that people should have to pay for higher education because he is a socialist. Thoughts of my own mountain of student loan debt soon drowned out the radio, and I found myself sincerely contemplating ...
Losing Track Of Student Loans Can Wreak Havoc On Your Personal Finances
While having a big family is a wonderful blessing in and of itself, it’s especially rewarding during tax season. Don’t get me wrong; I value my family infinitely more than a tax refund, but it feels good to know that my commitment to my marriage and children is recognized by our government when tax time rolls around. We had twins last year, so when my husband and I realized that we would get a Child Tax Credit for both of them, we thought that was pretty nice. After deductions, we expected a return in the thousands, so we were happy campers.During that same time, however, we were dealing with a frustrating issue that did not put smiles on our faces at all. Somehow, when I consolidated my federal ...
StudentLoanJustice.org
Was reading the New York Times on Sunday and came across an article about the StudentLoanJustice.org website. It's a web space you must visit at least once if you or a member of your family has student loans. Site is chock full of content that's both shocking and engaging. This site is not just a place to read up on the injustice that exists in the American student loan industry, it's also the official website of the StudentLoanJustice.org Political Action Committee (PAC).Here's a clip from the site's "
Is Leasing A City's Waste Treatment Plant A Good Way to Raise Cash for Students?
Mayor Don Plusquellic of Akron, Ohio has an ambitious plan to help graduates of Akron's public high schools pay for college and trade school. The plan: lease the city's waste treatment facility to a private contractor and generate as much as $200 million.Yeah, I know. You're thinking that maybe this story is a hoax, that it belongs in the Onion. But it's not. Click here to read the AP story.
Was Paying Off My Student Loan Debt A Bad Idea?
Back in January 2008, I decided to payoff my student loan balance and be done with it. At the time, I wasn't too worried about draining my savings account, since business was good, and I felt that my business was more or less recession proof. I was paying 8% interest, and there was no way for me to consolidate to get a lower interest rate, because I had already consolidated with William D. Ford. (FYI: you can only consolidate student loan debt once, unless you go back to school and get more student loans.)
Here's what prompted me to payoff my student loan debt:
The above is a clip from the 2007 tax statement sent to me by the folks at William D. Ford. As you can see, since ...
Here's what prompted me to payoff my student loan debt:
The above is a clip from the 2007 tax statement sent to me by the folks at William D. Ford. As you can see, since ...
Can You Save Money by Consolidating with Sallie Mae?
The folks at Sallie Mae have put together a handy and user-friendly tool whereby you can quickly and easily figure out if consolidating your student loans with Sallie Mae® can lower your monthly loan payments. After answering 5 questions, the animated tool will show you how much you can save each month, if at all, by consolidating with Sallie Mae.
Click here to jump to the new Sallie Mae tool.
Caveat: Consolidation can be advantageous if, for example, you have many loans from different agencies. However, it's important to remember that a lower monthly payment can also extend the life of your student loan indebtedness by ...
Click here to jump to the new Sallie Mae tool.
Caveat: Consolidation can be advantageous if, for example, you have many loans from different agencies. However, it's important to remember that a lower monthly payment can also extend the life of your student loan indebtedness by ...
Top 100 Student Loan Consolidators and Originators
If you're planning on applying for a new student loan, or planning on consolidating your existing loan(s), then you'll find the following news useful. The Department of Education recently released two top 100 lists: The Top 100 Student Loan Consolidation Lenders for 2006-2006, and the Top 100 Student Loan Originators for 2005-2006. These two lists are based on dollar amounts on new guarantees.
Nancy Pelosi Is A Friend of Federal Student Loan Aid: Let's Make Her Speaker of The House
Bill Moyers is an American hero.
Did you see the PBS show "Capitol Crimes?" If you haven't, you need to watch it before voting next week. To be perfectly frank, I can't see how anyone could vote Republican with the knowledge of what Tom Delay did as a Republican leader in The House of Representatives.
But, not all Republicans are bad, right? Well, maybe not all, but if you saw the standing ovation that Mr. Delay received just before he left Washington in disgrace, you can't help but wonder if most Republicans are in fact corrupt. Bottom line: I think most Republicans admire Mr. Delay, and I think that they would have him back as leader is given the choice.
Let's Get America Back on Track!
Do America a favor and vote for a Democrat on November 7th. The Republicans don't deserve to lead The House, and they ...
Did you see the PBS show "Capitol Crimes?" If you haven't, you need to watch it before voting next week. To be perfectly frank, I can't see how anyone could vote Republican with the knowledge of what Tom Delay did as a Republican leader in The House of Representatives.
But, not all Republicans are bad, right? Well, maybe not all, but if you saw the standing ovation that Mr. Delay received just before he left Washington in disgrace, you can't help but wonder if most Republicans are in fact corrupt. Bottom line: I think most Republicans admire Mr. Delay, and I think that they would have him back as leader is given the choice.
Let's Get America Back on Track!
Do America a favor and vote for a Democrat on November 7th. The Republicans don't deserve to lead The House, and they ...
The Student Loan Consolidation "Single-Lender Rule" Has Been Repealed by H.R. 4939
On June 15, 2006, President Bush signed The Emergency Supplemental Spending Bill--H.R. 4939-- into law. The passing of H.R. 4939 means that the student loan consolidation Single-Lender Rule has been repealed, so now student loan debtors can consolidate their student loans with any lender they choose (click here for some more background on the Single-Lender Rule.)
Now that student loan debtors have the freedom of choice, NextStudent.com--the company which offers no cost student loan consolidation
--urges borrowers to consolidate before consolidation rates rise on July 1, 2006 (only 1 week left!)
For more, here's a clip from yesterday's
Now that student loan debtors have the freedom of choice, NextStudent.com--the company which offers no cost student loan consolidation
For more, here's a clip from yesterday's
The Dark Side of 529 College Savings Plans
Every responsible parent worries about it: how to save enough money so that the kids have enough to pay for college?
You've probably heard of 529 College Savings Plans; maybe your financial advisor, a friend or a family member has recommended 529 plans as a great way to save for university fees--fees that seem to rise at an unreasonable rate each and every year.
But what if someone told you that 529 plans are a bad idea? What if a financial aid expert told you that 529 plans are a hazard to the average family, and must be avoided at all costs? Would you believe it?
Well, that's how author and college financing expert Reecy Aresty feels about 529 plans. More from Reecy's side of the argument can be found below in the snippet from today's press release:
You've probably heard of 529 College Savings Plans; maybe your financial advisor, a friend or a family member has recommended 529 plans as a great way to save for university fees--fees that seem to rise at an unreasonable rate each and every year.
But what if someone told you that 529 plans are a bad idea? What if a financial aid expert told you that 529 plans are a hazard to the average family, and must be avoided at all costs? Would you believe it?
Well, that's how author and college financing expert Reecy Aresty feels about 529 plans. More from Reecy's side of the argument can be found below in the snippet from today's press release:
"'529 Savings Plans are a financial hazard to the average family, and must be avoided at all costs.' ...