The Federal Reserve cut interest rates to near-zero in March, making it less expensive for consumers to borrow money as a way to limit the coronavirus impact on the economy. That means you’ll likely see your credit card APR get cheaper, and so will interest rates on mortgages, auto loans and student loans. If you’re
While it’s easy to assume any student debts you have will die if you do, that’s not always the case. Sure, it’s absolutely true that most federal student loans die with the borrower after proper “proof of death” is submitted. However, PLUS loans—a type of federal loan typically taken out by parents of students or
Student loan debt keeps rising, and according to the latest findings, the total of all student loan debt in the United States is $1.52 trillion. Meanwhile. the average amount of debt for a student who left college in 2016 is a staggering $37,172. This figure doesn’t even look at the student loans parents took out to help
I won’t pretend paying off student loans is a positive financial experience, but there is a tiny bit of good news for borrowers: If you pay your bill on time every month, you’ll see a steady increase in your credit score. As you’re well aware, you’ll be paying your student loans for a long time,
Your kid isn’t the only one studying. If you’re searching for grants and scholarship money and researching federal subsidized and unsubsidized loans, you probably feel as if you’re boning up for the hardest, most complicated test you’ve ever come up against. And then somewhere, in the midst of all of this, you’ve probably found a
The most surprising part about paying off my student loan has been the mental anguish it causes. I get sad thinking about how much money I owe — like, actually sad. If I ever find myself staring at a wall with a blank look on my face and my mouth slightly agape, zoning out, it’s