Student loan debt is unlike any other kind of debt, especially if you have federal loans and are taking advantage of federal repayment programs. It’s entirely possible that you have been making payments for months or years, but you could now owe even more than when you started. The joys of income-driven repayment plans, where your monthly payment doesn’t even cover the interest.
You may be thinking no big deal, the amount will be forgiven in 20-25 years, think again. That forgiven amount (unless you are PSLF) is considered taxable income. So you can work hard to pay off that debt or work hard to prepare for that tax bomb that will drop at the end of your repayment period. Either way is fine, just make sure you have a plan one way or the other.
If you have student loans and struggle financially, you’ve probably thought that filing for bankruptcy wouldn’t help you. Since when Congress wrote the law they made sure to specify what debts were and were not dischargeable. The law seemed to protect all student loans from being discharged. However, what has been argued as a better … Read more
Hey everyone, today I’m super excited to have a guest post from Michelle at Savings & Sangria (she’s a girl after my own heart talking money and booze) where she is going to share some tips on how to handle your money once you reach life after debt. Michelle is passionate about teaching #HappyMoneyManagement to … Read more
Today, I’m thrilled to have a guest post by Drew Cloud from The Student Loan Report, I’ll let him take it away. Misunderstanding and misinformation abound when it comes to the differences between consolidating or refinancing student loans. Sometimes, the confusion is enough to cause you to simply avoid or put off strategies that can … Read more
Happy Tiny Friday friends! I’m excited for another installment of Student Loan Conquerors. Student Loan Conquerors is an interview series. I talk with some awesome people tackling their student loan debt head on. Finding out how they are doing it and what inspired them to start in the first place. If you are interested in … Read more
Will law school really provide a good return on your investment? Six years after graduating from law school, I’m more in debt than ever. Yup, after making payments for six years I owe approximately $60k more than I did when I graduated. Isn’t interest grand? Anyway, while I may have left the practice of law, I … Read more
I still remember the very first episode of Law and Order, I was ten. It opened at a gala of some sort, the lights went out and when they came on, a woman screamed. Someone had been killed. Maybe not the most suitable tv for a ten year old. But I also have more memories as … Read more
Happy Tiny Friday friends! I’m excited for another installment of Student Loan Conquerors. Student Loan Conquerors is an interview series. I talk with some awesome people tackling their student loan debt head on. Finding out how they are doing it and what inspired them to start in the first place. If you are interested in … Read more
Today I am thrilled to have Lauren Davidson guest post about the benefits of studying abroad. As someone who has studied abroad, I can attest that it is a wonderful thing to do. It is also the one thing that I would always get asked about on my resume. What Employers See When They Find … Read more
Frequently asked financial questions are questions that I’ve seen pop up over and over again. I thought I’d take the time to answer them in this Frequently Asked Financial Questions Series. So each post will have a short quick answer to these frequently asked financial questions followed by a longer more detailed answer. Should I … Read more
Frequently asked financial questions are questions that I’ve seen pop up over and over again. I thought I’d take the time to answer them in this Frequently Asked Financial Questions Series. So each post will have a short quick answer to these frequently asked financial questions followed by a longer more detailed answer. Am I totally … Read more