How To Pay Your Student Loans

Applicable Criteria and Related Research: –‘Global Structured Finance Rating Criteria’ dated May 24, 2013; –‘Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria’ dated May 17, 2013. Applicable Criteria and Related Research: Global Structured Finance Rating Criteria http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=807679 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: http://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS . IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE http://WWW.FITCHRATINGS.COM . PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES.
Source: http://finance.yahoo.com/news/fitch-maintains-rating-watch-two-214200830.html

Student loan expert Mark Kantrowitz expects the numbers aren’t high. “About 10 percent of borrowers who sought my help obtaining a settlement ultimately were able to get a settlement,” said Kantrowitz, senior vice president and publisher of college planning resource Edvisors.com. “Keep in mind that I hear from borrowers in extreme cases.” Even those who can scrounge up a lump sum by borrowing from a family member, for example, or through a windfall such as a lawsuit settlement or an inheritance aren’t guaranteed success. That’s because student loan collectors, in general, and federal student loan collectors, in particular, have so many ways to wring payments out of borrowers. Federal student loan collectors can garnish wages, grab federal tax refunds and take a portion of government benefits, including Social Security, all without taking a borrower (visit) to court. Indeed, the U.S.
Source: http://www.reuters.com/article/2013/11/04/us-weston-studentloans-idUSBRE9A30Q920131104

Student loan rates will feed federal profits

Really?? I am speechless and disgusted and losing sleep over this. I am very sure there are thousands and thousands of others struggling too. She does NOT want to file bankruptcy – she want to pay what she owes…she is a good kid… My daughter borrowed $35,000 in PRIVATE school loans..She has paid at least $15,000 back-yet her total debt is now >$45,000!!!!
Source: http://www.huffingtonpost.com/steve-rhode/my-daughters-life-is-over_b_4256568.html

Some borrowers miss out on this benefit because they put their loans on a military deferral, which halts payments while they are on active duty. Instead of stopping payments, troops should explore options to lower the amount due each month, such as income-based, income-contingent and pay-as-you-earn repayment plans. Each option bases monthly payments on annual earnings and family size . The reduced amount still counts as a full payment for public service loan forgiveness, even if the total amount due each month is zero dollars. Service members who leave the military before the 10-year mark can retain this benefit, as long as they move to another qualifying position. Any employment with federal, state or local government agencies, or a nonprofit organization with 501(c)(3) tax-exempt status, falls under this relief program, according to the Department of Education.
Source: http://www.huffingtonpost.com/2013/11/11/student-loan-relief-service-members_n_4254872.html

This is because their six-month grace period on their student loans will end. As they will begin repaying their loans, they will need to learn repayment strategies to strike the best “work/loan” balance, and also learn to budget. Here is some important advice on how to manage and repay student loans, to help recent grads who are coming out of their six month grace period: Understand Your Loans. There are many different types of student loans and most recent graduates have more than one. You don’t need to be an expert on all the various types, but you do need to have an expert understanding of yours. Review the terms, interest rates and payment schedules.
Source: http://www.cbsnews.com/8301-505144_162-57611290/how-to-pay-your-student-loans/

Jennifer, her mom, will take a $6,000 parent loan. Under the law passed this summer, both will save a little bit from what they would have paid in interest rates. But if they continue to take out loans in subsequent years, they are likely to pay more. The law set rates for all the loans at different levels, but based them all on the 10-year Treasury rate and allowed rates to change each year. For Stafford loans, both the subsidized and unsubsidized, the interest rate is the Treasury rate plus 2.05%, with a cap of 8.25%. Graduate student loan rates are the Treasury rate plus 3.6%, with a cap of 9.5%, and the parent loans are the Treasury rate, plus 4.6%, with a cap of 10.5%.
Source: http://www.usatoday.com/story/news/nation/2013/08/25/student-loan-rates-will-feed-fed-profits/2696241/

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