Tag: loan forgiveness

How to (legally) avoid paying your student loans

Posted on February 2nd, 2015

Not paying your student loans can have some serious consequences, including a lowered credit score and having your wages garnished.

But what if there was a way to avoid paying your student loans with no repercussions?

Actually, there is–if you quality for a student loan forgiveness program.

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Parents of deceased borrowers shouldn’t have to pay student loans

Posted on August 4th, 2014

Dealing with the death of a child is difficult enough. But the financial stress of having to repay the child’s student loans can make such a tragic event that much more difficult to bear.

This is a heartbreaking reality for the Mason family, and many others who face the terrible tragedy of losing a child with student loans, according to a recent CNN Money story.

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Can’t pay your student loans? This college will pay them for you.

Posted on November 20th, 2013

After graduating college, many former students have difficulty finding jobs that allow them to afford their monthly student loan payments.

If you graduate into a low-paying field, you may find yourself barely scraping by–even before you pay your student loans. The lowest-paying major for 2013, Child and Family Studies, has an average starting salary of just $29,300.

Houghton College knows the economy is tough, and it can take new graduates several years to make enough money to pay back their loans, especially in smaller cities, job markets, and careers.

That’s why the small liberal arts college in Houghton, NY has decided to launch an innovative new student loan repayment plan for graduates.

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What you need to know about student loan forgiveness

Posted on October 3rd, 2013

Planning on entering public service after college so you can have your student loans forgiven? It’s more complicated than you think.

Think about how often you change your mind. There’s no way to be completely certain that your plans won’t change sometime in the next four years–or in the ten years you have to commit to a public service position in order to be eligible for student loan forgiveness.

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Crowdfunding for college graduates’ dreams

Posted on October 2nd, 2013

Cinderella never had to worry about student loans. And she got to live in a castle and had her own room. She might have had to work for her room and board, but her situation sounds pretty great compared to the typical college student’s cramped living quarters.

And even if Cinderella had gone to college, she had a fairy godmother to step in and wipe away her student loans.

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Millions of eligible borrowers not taking advantage of student loan forgiveness

Posted on September 6th, 2013

"We believe that people who contribute part of their talents, part of the benefits of their education, to society as a whole should not be mired in debt because they stir themselves to the calling of public service." -- Richard Cordray

Do you work in the public sector–perhaps in a school, hospital, or government office–and have student loan debt? You may qualify for student loan forgiveness and not even realize it. More than 33 million workers qualify to have their student loans forgiven because they work in public service, but too few take advantage of the […]

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Millennials: a generation in debt

Posted on July 12th, 2013

After adjusting for inflation, students are borrowing twice the amount they borrowed a year ago. Congress’ recent neglect to keep student loan interest rates from doubling to 6.8% could cost students as much as $5,000 more over the next 10 years.

Scholarslip, an excellent documentary about the student loan crisis, explores the real stories of young people facing their student debt.

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The differences between private & federal student loans

Posted on June 14th, 2013

Student debt is a huge issue, and borrowers with private student loans get the worst of it. Check out this chart and read on to learn about the differences between federal and private student loans.

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Worried about student loans? Here’s how to pay them off.

Posted on April 28th, 2013

"By educating themselves on their student loan rights and responsibilities, borrowers can find themselves on more solid financial footing after graduation." -- Regina Lewis

According to a┬áTransUnion study, student loan balances increased 75% from 2007 to 2012. The average debt per borrower increased by 30% to $23,829. In the wake of surging student debt, USA TODAY explains the best way to pay back your student loans, including deferment, “pay as you earn” plans, loan forgiveness, and more.

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Is debt forgiveness the answer to the student loan crisis?

Posted on March 15th, 2013

With student loan debt at an all-time high and more students than ever falling behind on their payments, some people have called on the government to forgive all student loans as a way to help needy students.

Daniel Lin, a Professor of Economics at American University, argues that this would just be a temporary solution that wouldn’t help break the cycle of student debt. Instead of debt forgiveness, Professor Lin suggests making student loans like other types of loans: dischargeable in bankruptcy.

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