The recently enacted CARES Act provides relief for Federal student loan borrowers. It is good news for those enrolled in an income-driven repayment plan or in the Public Service Loan Forgiveness Program. The Act suspends most Federal student loan payments and interest accrual between March 13 and September 30, 2020. Principal balances are also frozen […]
Graduates please pay attention to your finances. And parents heed this financial advice too if you haven’t been as vigilant as you could have been. Don’t avoid dealing with your finances because you don’t want to or don’t like math. If you avoid dealing with your finances now you will pay more in the long run […]
Direct Student Loan borrowers now have more flexibility to repay, and ultimately to have forgiven, their student loans. The Obama Administration recently finalized a new income-driven student loan repayment plan, called Revised Pay As You Earn (REPAYE). The rules allow all Direct Student Loan borrowers to be eligible for the repayment plan, provide an upper […]
Newly proposed student loan repayment rules could help more borrowers better manage their student loans. The Obama Administration has proposed to offer a new income-driven student loan repayment plan, called Revised Pay As You Earn (REPAYE). The proposed rules seek to allow more borrowers to be eligible for the repayment plan, provide an upper limit […]
I was asked the other day the financial moves I wish I had done in my 20s and 30s to get ready for retirement. I thought wow, what a great question! After some soul searching I arrived at three things I wish I had done better and three things I think I did right when […]
You may be asking yourself whether there a good way to save for graduate school? You just moved to the Washington DC area and you have a good job that pays pretty well. But you are thinking of going back to school for a graduate degree (or another grad degree – this is DC of […]
I receive a lot of questions on the Public Service Loan Forgiveness Program (PSLFP) as a way to pay off federal student loans. Washington DC is concentrated with public service professionals who are potentially eligible for this program. Be mindful of the answers to the following three questions and you’ll be on your way to […]
Once you have your student loan inventory, it is time to develop a repayment plan that makes real headway to reduce your debt and the amount of interest paid. Of course, if you can only make the minimum payments, then that is what I urge you to do. But if you have the ability pay […]
Repaying your student loans smartly can save money over the long term and increase your credit score. Remember: your federal and private student loans generally cannot be canceled or discharged in bankruptcy because you didn’t get the education or job you expected, or because you didn’t complete your education. So it makes sense to come up […]
