5 Things to Consider Before Taking On a Student Loan, Compliments of the WSJ
In Wednesday's Wall Street Journal, columnist Josh Mitchell offered potential student loan borrowers 5 things they need to know before signing on the dotted line: 1. Research what aid is available to you - including scholarships, state and federal grants, and then federal student loans. 2. Know the terms of your loan(s)- including interest rate, repayment period, when payments begin, etc. 3. Loans are debts that cannot be discharged in bankruptcy - when you sign on the dotted line, those debts will not go away until you pay them. 4. Research…
Defending Your Liberty, While Waiting On Hold
In November 2001, I deployed into Afghanistan with my fellow Marines of the 26th Marine Expeditionary Unit (Special Operations Capable) to capture or kill those responsible for the Sept. 11, 2001 terrorist attacks in the United States and to aid Afghanistan's Northern Alliance in their efforts to defeat the Taliban and rest control of their proud country from that brutal regime. The last thing that I, or any deployed servicemember, wants to think about is the financial security of my family back home. Yet today, according to a recent…
Introducing the New “Pay As You Earn” Student Loan Repayment Plan
Final regulations implementing the President's “Pay As You Earn” repayment initiative have just been published. The regulations provide for reduced payments for some federal student loan borrowers and improve the federal student loan disability discharge process. Highlights include: Eligible borrowers: Must not owe a balance on a federal loan as of October 1, 2007; AND Must receive a disbursement of a federal loan after October 1, 2011. Payments will be 10% of discretionary income with forgiveness after 20 years…
