For example, a college student who borrows $10,000 in federal student loans for the 2018-2019 academic school year would owe $12,757 under a standard 10-year repayment plan and current 5.05% interest rate. Under the new 4.53% interest rate, a college student who borrows $10,000 for the 2019-2020 academic school year would owe $12,454 under a standard 10-year repayment plan.
After you refinance your student loans, you will have one student loan, one monthly payment and a lower interest rate. The lower interest rate is what helps you save money each month. Thisshows you how much money you can save through student loan refinancing.
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Good news for most student-loan borrowers: Interest rates are going downThe 2019-2020 academic year marks the first time in three years the rates on federal loans are set to decrease.
Source: MarketWatch - 🏆 3. / 97 Read more »
Student loan rates are dropping. Here's what you need to knowStudent loan rates will go down next academic year. Here's what they'll be Good to hear that
Source: CNBC - 🏆 12. / 72 Read more »
U.S. Student-Loan Program Now Runs Deficit, CBO EstimatesU.S. officials no longer think the government will make money off the federal student-loan program and now project it will cost taxpayers tens of billions of dollars in coming years. Huh what a shock votes dont pay for themselves A paltry price to pay. Except when it comes out of your paycheck. If it's someone else's paycheck, like those jerkwad rich people, well, that makes it all better. This article triggers me. I need a comfort pig. And maybe a glow worm.
Source: WSJ - 🏆 98. / 63 Read more »
Lawmakers Plan Would Let Borrowers Cancel Student Loans in BankruptcyThe proposal would enable bankrupt student loan borrowers to cancel that debt along with medical bills, credit-card debt and other payment obligations. Erasing student loans while in bankruptcy is very difficult, even for borrowers who face extreme financial difficulties. Be prepared for a huge wave of bankruptcies Maybe we should just cancel all debt. But we still have to file bankruptcy WTF
Source: WSJ - 🏆 98. / 63 Read more »
How the student loan 'grace period' can actually make your debt problem worseHow the student loan 'grace period' can actually make your debt problem worse via CNBCMakeIt MakeIt No shit. People don't do this because they want to. It's because not everyone has a job when they first graduate. MakeIt Interest... It still accumulates while your payments are on hold. Just like any other loan really. Its a bandaid for a bullet wound frankly. Its covered. But the blood just keeps gushing. Smh. MakeIt There is no grace period the interest just keeps growing 🤡🔥👹
Source: CNBC - 🏆 12. / 72 Read more »