Save Money Today on Your Student Loans
Are you tackling a big monthly student loan payment with a salary that isn't as big as you'd hoped?
If so, income-driven repayment for your federal student loans can be a godsend. Under these plans, the government will reduce your monthly federal student loan payment to a more manageable rate based on your income.
If you’ve ever worried about defaulting on your student loans, you’re not alone.
With the average 2016 college grad in debt to the tune of $37,172 and chronically stagnant wages for new graduates, it’s no surprise so many people find themselves concerned about keeping up with monthly payments.
If you want to reduce the monthly bill for your federal student loans, you have a lot of options.
There are currently four income-driven repayment plans that let you recalibrate the amount you pay per month based on how much you earn. The idea is that you pay what you can afford, as a manageable percentage of your income.
If you're planning to go to medical school, you're probably also planning to take on signficant student loan debt. The question is, is the debt worth it?
There’s no question medical students are going further and further into debt. From 1992 to 2017, medical student debt went up a whopping 123.4% — rising from an average of $87,297 in 1992 to $195,000 in 2017.
An article featured in USA Today shows why letting daily expenses get in the way of retirement savings is a big (and common) problem. The issue: the later you start saving, the harder it will be to comfortably retire —or to retire at all.
The piece, which cites research conducted by Comet, shows that over 40% of Gen Xers and Baby Boomers have not started saving retirement.
Though student loan debt has now surpassed credit card debt, many Americans have the challenge of dealing with both.
The average college graduate now has more than $37,000 in outstanding student loan debt, and many people of those same people hold thousands of dollars in credit card debt as well.