There is a little known federal program, Public Service Loan Forgiveness (PSLF), which entirely forgives the indebtedness of a lawyer who elects to work in public service, rather than at a law firm or in-house at a corporation.
With rising tuition costs and a growing reliance for college students to take out loans to pay for tuition, many millennials are looking to the field of candidates who are running for President of the United States in 2016 to address the student debt crisis.
If we want our students to continue to educate themselves and continue the tradition of making the American workforce the best in the world, then we must encourage education rather than put up barriers.
A better educated workforce is needed to compete more effectively. A high school education is no longer sufficient in a post-industrial society. But can enough people afford that? Yes, but they need to work for it, in a different way than you think
On Monday Hillary Clinton responded to the emerging Student Debt Voter movement with her own plan to reduce the cost of college education and reduce the burden of student debt. She calls it her New College Compact, presented at a forum in New Hampshire.
My students are left facing a quandary: if they don't spend thousands of dollars to get educated, they won't end up earning the money they need to afford a middle class lifestyle. But if they borrow the thousands of dollars for an education, they'll end up spending their careers burdened by debt.
I cut our grocery bill in half. The grocery total would vary every month. But in January 2014, I only spent $170 on groceries -- my lowest total ever. I like to feed my family organic produce, but I had to let that go for the sake of a bigger goal.
Public Service Loan Forgiveness (PSLF) was enacted by Congress to incent long-term public interest careers by allowing borrowers to earn forgiveness of their student loans after they make 120 on-time monthly payments while working in a wide range of qualifying public interest positions.
Many people, including many student debt holders, may be surprised to learn that people can be pursued for student debt even into their elder years. In fact, the government is withholding Social Security payments for some retirees, because their student loans have not been fully repaid.
With interest rates at record lows and the Federal Reserve confirming expectations of rising interest rates before the end of 2015, now may be an ideal time for college graduates to consider refinancing their high interest rate student loans.
The right repayment plan for you will depend on your income, credit history and many other factors such as your ability to support higher monthly repayments. This article looks at how to pick the best student loan repayment plan for you.
College students across the nation are working toward earning their degrees in hopes of one day having a career that will provide them with financial security. While many students dream of financial independence, the reality is that the rising cost of college tuition is leaving many of today's graduates with burdening student loan debt.
To ensure the ongoing health of the student loan market, it would be beneficial for all student borrowers to make their scheduled monthly payments, and complete their repayment schedule by the loan maturity date. However, on an individual basis, this might not be so easy.
Retirement prospects seem grim for Millennials, but they're especially tough for first-generation Latinos from mixed immigrant status families. Yet as a young Latina, I'm more worried about my family's retirement prospects than my own.
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.
Like other grandparents, we're convinced our grandchildren are the smartest and most perfect creatures on the planet. We've had college 529 savings accounts for them since they were born and know that someday they will cure cancer, end poverty and save the planet!