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Private Student Loans

How to Live on the Cheap While Paying Off Your Student Loans

NerdWallet | Posted 01.31.2017 | College

If you're a college student, you have a lot on your plate -- who could blame you for not paying attention to that mounting student loan balance? But ...

4 Financial Aid Tips for College Procrastinators

NerdWallet | Posted 09.07.2016 | Education

We all have bouts of procrastination, especially in college. Pulling an all-nighter to crank out a paper you've had weeks to work on is practically th...

Some Private Student Loans Eligible for Automatic Discharge in Bankruptcy

Richard Gaudreau | Posted 06.28.2016 | Business
Richard Gaudreau

What's in a name? Just because your private student loan uses the term "student loan" doesn't mean it is one.

Parents: Here's The Scoop on Financial Aid

Latoya Scott | Posted 05.10.2016 | Parents
Latoya Scott

Understanding the financial process isn't easy, but it's important to understand the basics as you prepare your child for college. Learn as much as you can about the financial aid process and help reduce the impact of this important financial decision.

Private Student Loans Vs. Federal Student Loans

William Morrow | Posted 05.04.2016 | Business
William Morrow

Credit We all like to imagine that we'll be able to pay for college or send our kids to college without taking out any loans or going into debt. Unfo...

Struggling With Student Loan Debt? Here Are Some of Your Options

Gary Dekmezian | Posted 02.04.2017 | Business
Gary Dekmezian

The class of 2015 was the most indebted in the history of the United States. According to the Wall Street Journal, over 70% of these graduates held so...

10 Common Student Loan Refinancing Questions: Answered

Andrew Josuweit | Posted 01.18.2017 | Business
Andrew Josuweit

One solution for grads buried in debt: student loan refinancing. The process of refinancing student loans can lower interest rates and monthly payments, allowing borrowers to potentially save thousands of dollars over the lifetime of their loans. While this seems like a good deal, is student loan refinancing a smart decision?

Why Defaulting on Private Student Loans Is Not as Crazy or Irresponsible as it Sounds

Steve Rhode | Posted 01.18.2017 | College
Steve Rhode

The real question everyone needs to ask is at what point do you sacrifice a safer financial future to attempt to remedy an unfortunate past financial situation? To understand the role and/or strategy of this approach you have to apply math and reality rather than just emotion and assumptions. Which do you think your banker is using?

Is There Anyway to Get Out From Under My Navient Student Loans?

Steve Rhode | Posted 12.29.2016 | Business
Steve Rhode

Question: Dear Steve, I was young and dumb and didn't have any financial help with college. I took out student loans to support my education. After ...

There Is No Way I Can Ever Afford My Private Student Loans. What Can I Do?

Steve Rhode | Posted 12.15.2016 | Business
Steve Rhode

Faced with a lack or loss of income and a demand for payments you can't afford to make over a long period of time, your choices on what to do are limited, but you have some.

Can I Just Pay What I Can Afford on My Private Student Loans?

Steve Rhode | Posted 12.08.2016 | Business
Steve Rhode

Private student loan lenders are not required to make any payment affordable. They don't have to adjust the payment and they can hold you to the original payment you agreed to when you took out the loan.

Can I Just Let My Private Student Loans Expire and Say Goodbye?

Steve Rhode | Posted 12.02.2016 | Business
Steve Rhode

If the loans in your name only go unpaid past the statute of limitations, then the loans would not be legally collectible and they could be discharged in bankruptcy. Now when I say "legally collectible" that requires some qualification.

My Navient Student Loans Are Out of Control

Steve Rhode | Posted 11.13.2016 | Business
Steve Rhode

As it stands right now, private student loan lenders are not required to offer you any repayment plan beyond what you originally agreed to. Private student loans have no reasonable and affordable repayment options like federal student loans do.

My Daughter Lives in the UK Now and Can't Afford Her U.S. Private Student Loans

Steve Rhode | Posted 10.13.2016 | College
Steve Rhode

Dealing with student loan debt is full of a terrible amount of misinformation. It's still an evolving topic and most everyone gets it wrong. From student loan servicers to bankruptcy attorneys, the right information is not getting out.

What Is the Difference Between a Fixed Vs. Variable Interest Rate When I Refinance My Student Loan?

Aryea Aranoff | Posted 10.01.2016 | Education
Aryea Aranoff

If you're looking into refinancing your student loans, one of the big decisions to make is choosing between variable and fixed rate loans. There are several factors to keep in mind when making that choice that aren't immediately obvious, so let's break them down one at a time

Student Loan Problem Garners National Attention from Presidential Candidates. Private Sector Responds with Creative Solutions

Aryea Aranoff | Posted 09.28.2016 | Business
Aryea Aranoff

As the presidential campaigning continues, an issue that is fast-becoming a central component of the election has been the question of how to curb bal...

Reporter Discovers Student Loan Shit Your Pants Syndrome #SYP

Steve Rhode | Posted 09.21.2016 | Business
Steve Rhode

My condolences for being a professional and award-winning reporter. The people who read or view the stuff folks like you produce, just don't understand how little most talented reporters, journalists, and writer actually make. It's pretty sad.

Department of Education Tips Hand on Student Loan Defense

Steve Rhode | Posted 09.16.2016 | Business
Steve Rhode

The Department of Education is scheduled to publish a request that seems to tip their hand about a borrower defense that could allow lots of students from having to repay their student loans.

How Can I Get Rid of My Student Loans if I Become a Teacher?

Steve Rhode | Posted 08.18.2016 | Business
Steve Rhode

The teacher student loan forgiveness program can be a bit confusing. While it is true, federal student loans can be forgiven in full for some teachers, you have to read the fine print. Not all loans are eligible for forgiveness.

How Can I Get Navient to Work With Me on Repayment?

Steve Rhode | Posted 07.24.2016 | College
Steve Rhode

Navient has every right to contact the cosigner on the loan. The cosigner agreed to be 100% responsible for the loan if you defaulted. That's the role of the cosigner. The get all the liability and none of the benefit.

Discover Penalized For Allegedly Cheating Student Loan Borrowers

The Huffington Post | Shahien Nasiripour | Posted 07.22.2015 | Politics

Discover Financial Services agreed to pay at least $18.5 million for allegedly cheating more than 100,000 borrowers with private student loans, the fe...

Could a Citizens Bank Student Loan be an Option for You?

Stephen Dash | Posted 07.18.2016 | Business
Stephen Dash

Citizens Bank Student Loan Highlights Wide variety of loan products, with multiple rates, terms, and repayment options Strong parent loan alternative ...

Predatory Lender or 'Premier' Chain of Career Colleges?

Kyle McCarthy | Posted 07.15.2016 | College
Kyle McCarthy

Recently, Arne Duncan, U.S. Secretary of Education, and Under Secretary Ted Mitchell held a conference call discussing the Department's plans for debt relief for Corinthian College students as well as to discuss holding other predatory schools accountable.

I Went to a Scam School and Now I Have Private Student Loan Problems

Steve Rhode | Posted 07.16.2016 | Business
Steve Rhode

It sure sounds like you got royally screwed. But if there is any good news here it is the loans could be fully discharged in bankruptcy. You see, I doubt the school was eligible for federal student loans so it was probably a private student loan you were saddled with.

Great Lakes Higher Education Authority Says They Can't Sue Me

Steve Rhode | Posted 07.15.2016 | Business
Steve Rhode

Most people make the critical mistake of not actively participating in repairing their credit after bankruptcy and let far too much time pass. Repairing credit after bankruptcy is really a 1-2 year affair.