For instance, all our post originally said about Discover was that “Discover encourages struggling borrowers to call its ‘Repayment Assistance Department.'” We were vague because, well, Discover was vague too.But times have changed and the student loan crisis, the media coverage surrounding it, and government intervention have worked to create an environment of improved transparency and increased options for borrowers.By Steve Rhode WRAL Reader Question Dear Steve, My student loans are out of control.
An education loan is a serious matter, and an understanding of your loan responsibilities and requirements will allow you to make an informed decision when considering a college loan.
The Federal government offers a number of loans for students looking to finance their college education.
Unless I can convince the government to stop taking taxes out of my check, my landlord to let me live for free, and start my own garden for food - this is impossible.
They are threatening liens against anything I or my parents own and garnishing both our wages. Chris Click here to get my free my weekday email newsletter with the latest tips and advice on how to beat debt and do better financially. Dear Chris, When it comes to private student loans there are some options, but none of them exceptionally wonderful.
We will analyze six of the top student loan servicers and give tips for how to pay off private student loans.
Note about the updates: Since we first wrote this post, more information about the top private lenders and their repayment programs has become publicly available.
Student loan debt has and will always be a trap until the law is changed back to make it more manageable.
The Consumer Financial Protection Bureau is looking into options to help people deal with student loan debt but we will have to wait and see what, if anything, they can roll out.
Consolidation is not right for everyone, make a decision that's right for you. Your payments will remain the same until all the creditors are paid off. You must keep up with your monthly statements and forward them to the consolidation agency. You can't use your credit card until you're done with the debt management plan. A debt management plan is not bankruptcy, but it will appear negatively on your credit report. Here's what you need to know about consolidating accounts through a debt management plan with an agency. Instead, they have preset arrangements with most financial institutions, many of which lower interest rates and fees, so more of your payment goes toward the balance rather than finance charges. With something as precious as your finances, be exceedingly careful about who you work with.