Three Ways to Address Student Loan Debt Fatigue

 

 

Feeling emotionally drained, weary, or burnt out when it comes to your student loans? Do you see no end in sight to your monthly payments? You’re likely suffering from debt fatigue.

 

Debt fatigue occurs when you are generally exhausted from the effort debt repayment has put you through. You’ve paid so much, but it’s still not enough so you start to lose hope. Here are three ways to help you cure your case of debt fatigue.

 

1. Make a Simple Plan (And Stick To It)

 

There are many recommendations for how to set up a budget. You can go old school with spreadsheets […] Read more

Last-Minute Options for Filling Your College Funding Gap

 

It happens to the best of us—we get so swept up in preparing for college that we may struggle to make ends meet when it comes to securing school funding. Going to college often involves moving away from home for the first time and taking on new financial responsibilities that can demand a lot of time and energy. There can be many uncertain factors that prevent us from securing all our college funding. If you find that you need to secure funds right before school starts, you don’t have to go about it alone. This guide, along with our other […] Read more

Back to School: Planning for the Year Ahead

 

In our blog, Budgeting Tips for the School Year, we explored several ways in which you can prepare yourself for financial stability throughout college. In this Back to School blog, we’ll be providing more tips on how to thrive mentally and financially throughout the semester. Even when you’re well within the school year, it’s important to stay on track to meet your educational and financial goals.

Once you have the budgeting ball rolling, it’s much easier to keep it going, but you’ll still have to work through the occasional bump in the road. We’ll explore some of the mental and financial challenges […] Read more

How to Talk to Your Kids About Money and Paying for College

 

Talking about money with anyone can be hard. Talking about paying for college with your kids can be even tougher with all that is riding on a college education. But, the paying for college-conversation needs be had earlier before a college choice is made. So, here are three ways to talk to your kids about money and paying for college.

 

1. Make It Fun

 

The cost of a college education can be intimidating and more to manage than a typical teen is used to handling. A teenager may not fully comprehend the value of loans. To the typical teen, loans may simply […] Read more

Budgeting Tips for the School Year

 

The price of college can go beyond just tuition—living expenses and additional school costs can really add up. Quickly. This is why brushing up on some financial education tools can go a very long way when it comes to managing your college-related expenses. One of the most important skills you can develop is the ability to create and stick to a budget. Let’s look at some of the ways you can take control of your financial future, starting with budgeting tips for the school year:

Plan Ahead

The art of building a budget is understanding your income, fixed expenses and flexible expenses.

Income […] Read more

Don’t Over Borrow: Why You May Need Less Than You Think

 

According to a Nerdwallet study, nearly half of student loan borrowers say they could have gotten by with a smaller loan. Now more than ever, it’s critical for potential borrowers to understand their future college costs to get the proper loan amount. By weighing all the options available for financial aid and having a clear understanding of college and living expenses, you may avoid costly over borrowing for the financial help you need.

 

Understanding Costs is the First Step

The majority of students are responsible for covering 50-74% of the overall cost of their degree, including living expenses, books and any other […] Read more

5 Tips for Parents: Help Your College Student Have a Productive Summer

Summer plans can vary greatly from what your college student has planned, and what you expect as their parent. To students, summer plans likely include beach days and fun, while you encourage them to continue their studies or gain valuable work-experience. These two objectives seem far apart, but you can them to find a balance.

 

Instead of reminding your son or daughter of their responsibilities all summer long, try recommending one of the following options to better prepare them for their future career. They might even have some fun while doing so.

 

1. Internships

Summer internships are the perfect way to test drive […] Read more

Parent PLUS Loans: Know the Facts Before You Borrow

 

Your child has been accepted into college! Congratulations, but here comes the hard part – how do you pay for it? A common option is the federal Parent PLUS loan, but how do you determine if it is right for your family?

 

What is the Parent PLUS Loan?

The federal Parent PLUS loan is a loan option offered by the Department of Education for parents, step-parents, and adoptive parents of dependent undergraduates. The Direct Parent PLUS loan designed as a “request for supplemental information in connection with the Federal Direct Plus Loan through the William D. Ford Federal Loan (Direct Loan) Program.”

In […] Read more

The Truth About Private Loans: Top Myths Debunked

 

Just like ghost stories are inevitably told over a campfire, private student loan myths are shared between borrowers and soon-to-be borrowers. Instead of perpetuating this bad habit, let’s bust the top private loan myths right now.

 

Myth 1: Private Loans Are Always the Worst Option

Federal student loans are regulated more stringently than private loans and typically have more flexible benefits for repayment and forgiveness, but that doesn’t mean they’re always the best option.

Private lenders can base interest rates on more factors than federal loan rates, which were designed to be set annually by Congress. This means that if you have stellar […] Read more

3 Things the College Financial Aid Office Might Not Be Telling You

 

 

When considering your college options, a school’s financial aid office should be at the top of your “people to make friends with” list. They offer invaluable aid and financing information to you and your student, but there are some things they may not always be so forthcoming with.

 

1. You Can Ask For More Money

Much like that new car’s sticker price, a financial aid package may be negotiable. Colleges don’t hold money back from students deliberately, but colleges may have discretionary funds.

Though, just asking for more money isn’t a recipe for success. You’ll need a thoughtful request to have a shot. […] Read more