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Private Student Loans

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

Gary Dekmezian | Posted 02.05.2016 | 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 01.18.2016 | 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 01.18.2016 | 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 01.04.2016 | 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 12.15.2015 | 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 12.08.2015 | 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 12.02.2015 | 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 11.13.2015 | 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 10.13.2015 | 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 10.01.2015 | 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 09.29.2015 | 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 b...

Reporter Discovers Student Loan Shit Your Pants Syndrome #SYP

Steve Rhode | Posted 09.24.2015 | 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 09.16.2015 | 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 08.18.2015 | 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 07.24.2015 | 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 f...

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

Stephen Dash | Posted 07.20.2015 | 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 07.17.2015 | 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 07.16.2015 | 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 07.15.2015 | 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.

Should You Get a Sallie Mae Student Loan?

Stephen Dash | Posted 07.13.2015 | Education
Stephen Dash

Navient has now departed from Sallie Mae and is a publicly traded company. It is expected to service more than 300 billion in student loans and many borrowers who took out Sallie Mae loans may now be under management by Navient.

Affording an Education: A Guide To Your Financial Aid Options

Credible | Posted 07.09.2015 | Education

With billions of dollars available annually for students to pay for their education, most college students utilize at least one type of financial aid. Financial aid options come from federal and state governments, individual colleges, or private organizations, and is available in the following forms.

Credible Launches Private Student Loan Marketplace

Stephen Dash | Posted 07.08.2015 | Business
Stephen Dash

Our team at Credible is thrilled to announce that we have recently launched a marketplace for private student loans in addition to our student loan re...

What You Should Know About Private Student Loans

Credible | Posted 07.06.2015 | Education

Private student loans are loans made by banks or other financial institutions for financial aid. The main difference between private and federal student loans is that federal loans are funded by the government. In the 2011-12 school year, almost 1.4 million undergraduates borrowed private loans.

What You Need to Know: Personal Loans for Students

Stephen Dash | Posted 07.06.2015 | College
Stephen Dash

Many students look towards personal loans to help them cover all of the extra costs while in college. However, the option of a personal loan may not be the wisest financial choice, especially if a private student loan can cover the extra costs instead.