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Private Student Loans

Private Education Loans Need Practical Reform

Suraj Bhatt | Posted 03.13.2015 | College
Suraj Bhatt

The inability to defer private education loans adds tremendous pressure to these students and their families. If a student is in school when repayment must begin, there is an unavoidable shift of responsibility to the co-signer. Is this always fair?

What's the Best Way to Consolidate Student Loan Debt?

CommonBond | Posted 03.09.2015 | Money

If you're looking to save thousands on student loan interest payments -- as well as time and headaches from managing multiple monthly payments -- then understanding the consolidation process is critical. Here's the rundown you need to determine whether student loan refinancing and consolidation is right for you.

My Opera Singer Wife Will Never Get Out From Under the Student Loans

Steve Rhode | Posted 03.22.2015 | Money
Steve Rhode

You should spend time looking at the Income Based Repayment Program, which will reduce your federal loans to what you can afford based on income. Under this program, even a $0 monthly payment is considered a full payment based on income requirements.

Income Sharing Agreements Could Help Fix the Student Loan Crisis

Jon Hartley | Posted 03.15.2015 | Business
Jon Hartley

A novel funding concept is sweeping the college education funding system by storm. Income Sharing Agreements (ISAs) are a financial vehicle in which a student receives a fixed amount of money to pay for their college tuition.

How Can I Consolidate All My Private Student Loans?

Steve Rhode | Posted 03.01.2015 | Money
Steve Rhode

Huffington Post Reader Question Dear Steve, I'm looking to consolidate private/government student loans. I have a few several outstanding loans wit...

Wells Fargo Will Lower Interest Rates On Certain Student Loans; Discover Is Weighing Moves

Wall Street Journal | Posted 11.20.2014 | College

Thousands of people struggling to pay back student debt are in line to get a break as two big lenders roll out programs to ease loan terms. After y...

My Federal and Private Student Loan Debt is Overwhelming

Steve Rhode | Posted 01.10.2015 | Money
Steve Rhode

Huffington Post Reader Question "Dear Steve, I have private student loans as well as federal ones, but they gave me the loans without cosigners and ...

Shahien Nasiripour

Consumer Regulator Vows Action As Student Loan Borrowers Suffer | Shahien Nasiripour | Posted 10.16.2014 | Politics

In October 2012, the federal agency charged with protecting households from predatory financial companies issued a report lamenting the lack of opport...

I Took Out Chase Private Student Loans and My Father Cosigned

Steve Rhode | Posted 11.19.2014 | Money
Steve Rhode

Huffington Post Reader Question Dear Steve, I was very irresponsible in this decision that I had made back in 2007 (after I had graduated high schoo...

How Can I Repay My Sallie Mae Student Loans When I'm Broke?

Steve Rhode | Posted 11.02.2014 | Money
Steve Rhode

Huffington Post Reader Question Dear Steve, I have 8 private tuition answer loans from Sallie Mae in the total amount of $138,000 taken out between ...

The One Dumb Mistake That Is Destroying Your Retirement

Amandah Blackwell | Posted 09.09.2014 | Money
Amandah Blackwell

Start saving for retirement today! While your kids may not like the fact that you won't co-sign for a student loan or even give them money toward college, it may be the right decision for you.

Student Loans: Size Matters, Right?

Jim Gibson | Posted 09.05.2014 | College
Jim Gibson

We just so happen to live in a culture where bigger is perceived as better. But that not always be the truth, especially when you are considering taking on thousands of dollars in debt.

Senate Democrats Propose Huge Change For Private Student Loans

The Huffington Post | Tyler Kingkade | Posted 06.25.2014 | Politics

Legislation unveiled by Sen. Tom Harkin (D-Iowa) Wednesday as part of a larger higher education package would allow private student loans to be discha...

What Can I Do About My Private Student Loans So I Don't Default?

Steve Rhode | Posted 08.24.2014 | Money
Steve Rhode

You are what us professionals in the debt relief world like to call "screwed."

4 Things Parents Need to Learn Now About Student Loans

Jodi Okun | Posted 08.10.2014 | Parents
Jodi Okun

When determining how to pay for this massive life event, parents are often as confused as their students. With that in mind, here are four things parents need to learn now about student loans before anyone signs on the dotted line.

New Obama Student Loan Proposal -- Swing and a Miss

Steve Rhode | Posted 08.10.2014 | Money
Steve Rhode

The problem is the announcement still leaves stranded the most pained borrowers, those with private student loans. Not a damn thing has been done for private student loan borrowers since the ability to discharge that debt in bankruptcy was taken away in 2005.

Why Most Student Loan Debt Advice Is Bad or Just Wrong

Steve Rhode | Posted 05.17.2014 | Money
Steve Rhode

The scammers are ahead of the experts on selling student loan solutions. It's not unusual at all for me hear from people who were charged $20,000-$37,000 for student loan help that's available for free.

My Private Student Loans Are Creating Tension With Cosigner

Steve Rhode | Posted 04.12.2014 | Business
Steve Rhode

Huffington Post Reader Question Dear Steve, I have a ton of student loan debt. I have around $70,000 in federal which is a ton, but manageable s...

Seriously, How Can I Deal With My Private Student Loans?

Steve Rhode | Posted 11.08.2014 | Business
Steve Rhode

Huffington Post Reader Question Dear Steve, I am currently only employed as a contracting social worker and make about 2,000 a month from which I pa...

College Cramps and Massive Student Loans

Steve Rhode | Posted 02.12.2014 | Business
Steve Rhode

Huffington Post Reader Question Dear Steve, I originally took out a myriad of loans to cobble together the finances necessary to supplement a "schol...

Sallie Mae Tricked Me When I Was Young

Steve Rhode | Posted 02.03.2014 | Business
Steve Rhode

Huffington Post Reader Question Dear Steve, I have 5 student loans, currently totally about $48,000 after 6+ years of repayment. Two of them are pri...

My Student Loan Company Won't Accept What I Can Afford to Pay

Steve Rhode | Posted 02.02.2014 | Business
Steve Rhode

Huffington Post Reader Question Dear Steve, I'm a first generation college student, and attended Hartwick College for 1.5 years until transferring a...

Educational Opportunity? Globe University's Murky Student Loan Partnership With Debt Collection Agency

Kyle McCarthy | Posted 01.23.2014 | Business
Kyle McCarthy

For years, the EdOp Loan has been marketed as one of the "primary sources of financial aid" and carried an 18% interest rate. As I mentioned in my previous article, the mailing address listed on happens to be the same mailing address for American Accounts and Advisers, a debt collection agency.

I Filed My Own Bankruptcy. My Private Student Loans Were Not Discharged.

Steve Rhode | Posted 01.25.2014 | Business
Steve Rhode

Huffington Post Reader Question Dear Steve, I filed bankruptcy in Colorado in in 2010. Student Loans Finance corporation is still harassing me to pa...

Should I Pay Off My Low Rate Student Loans?

Steve Rhode | Posted 01.23.2014 | Business
Steve Rhode

Huffington Post Reader Question Dear Steve, I have about $19,000 in government-backed student loans at 2.25%. When I graduated, I was advised to NOT...