Save Money Today on Your Student Loans
Do you feel like you're drowning in law school debt? You're not alone.
The average law school debt for a graduate is $112,776, according to legal website Above the Law. And according to U.S. News and World Report's 2018 rankings, a large percentage of law school graduates now regularly end up with upwards of $150,000 in student loan debt. At some law schools, 90% of graduates take on debt.
Can you pay off student loans with a credit card? Sure. It’s a free country. But maybe a better question is should you?
It can be really tempting to look for shortcuts to get rid of student loans—and you’re not the first person to get one of those 0% APR credit card offers in the mail and go “Hmmmm.” But we strongly suggest you put the envelope down and back away slowly. Let's dig in a little deeper.
If you've been diligently paying your student loans all year, you’ll want to take advantage of the student loan interest tax deduction.
This allows you to deduct the interest you’ve paid on your student loans up to $2,500. By claiming this deduction, you’re lowering the amount of income the government can tax.
How many times have you heard someone say: “There’s an app for that?”
If you’re knee-deep in student loans and looking for ways to help pay off your debt faster, you might want to try an app or online tool that does just that. Here are few to help you get your finances in shape and, in some cases, make money with your smartphone.
Let me guess: it’s 3:49 in the morning, and you’re awake and stressing out about your student loans again. If that’s what’s going on right now, we gotcha.
Sometimes you just need to take a deep breath, realize things aren’t as bad as your jerk brain is telling you they are, and read a few articles online that make you feel better. Here are 10 things to read if you’re freaking about your student loans right this minute.
Did you faithfully make the 120 qualifying payments toward Public Service Loan Forgiveness—a process that takes about 10 years—only to have your claim for forgiveness denied?
It’s not just you. A lot of borrowers have had this problem. The good news is that Congress just authorized a fix for it in its March spending bill. It’s called “Temporary Expanded Public Service Loan Forgiveness” (TEPSLF), and it sets aside over $350 million in forgiveness funding for people who were initially denied.
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