Zina Kumok is a freelance writer specializing in personal finance. A former reporter, she has covered murder trials, the Final Four and everything in between. She has been featured in Lifehacker, DailyWorth and Time. She paid off $28,000 worth of student loans in three years. Now she writes about being mindful with your money at Conscious Coins.
College Saving Inspiration: How This Family Worked Together to Save for College
Having student loans almost seems inevitable for college students, and in 2020, the average student loan debt was $32,731. But some students, with the help of their families, manage to avoid student loans altogether and graduate debt-free. Here is one woman’s story.
What is Extended Repayment for Student Loans?
The Extended repayment plan prolongs payments for up to 25 years. Under this repayment option, borrowers can choose between either fixed or graduated payments. Fixed payments remain the same for the duration of the loan, while graduated payments increase over time.
Options for Pausing Private Student Loans During Coronavirus
Due to the Coronavirus pandemic, federal student loan borrowers can pause student loan payments for six months, interest-free. Private student loan borrowers aren’t able to get this same benefit. But here is how private student loan lenders can deal with unemployment or other financial issues due to coronavirus.
How Employer Student Loan Assistance Works
Many companies are offering student loan repayment assistance as a benefit to attract college graduates dealing with student loan debt. With employer student loan repayment assistance, your employer will help repay your student loans. There are pro and cons to employer student loan repayment and things you should know.
Can I Get a Mortgage with Student Loan Debt?
Qualifying for a mortgage with student loan debt may sound like a long shot, but it’s actually very common. As more and more millennials and Gen Xers carry student debt into their 30 and 40s, it’s quickly becoming the only way most people can buy a house. While getting a mortgage with student loans is entirely possible, borrowers in this situation do have to take a few things into consideration. Here’s what you need to know.
How to Pay Off Your Student Loans by Age 30
This article describes several different scenarios in which a borrower can pay off their student loans by age 30. One involves total student loan debt equal to annual income. Another involves total student loan debt that significantly exceeds annual income.