5 Tips for Managing Student Debt
Heather loves National Public Radio and offering free advice to student loan borrowers and their families. She got to enjoy both last week as she sat down with Public Radio International's nationally-syndicated talkshow host Tavis Smiley to discuss how to avoid student loan debt or what to do once you’re in student loan debt. Listen to the interview here. Heather's Five Tips for Managing Student Loan Debt: 1. Everyone should fill out the Free Application for Federal Student Aid (FAFSA). 2. Students should choose…
Fed’s Debt Collector Scrutinized for Overly Aggressive Tactics
As many of you know by now, Heather is not a big fan of private student loans, considering their lack of borrower protections and flexibility when it comes time for repayment. Borrowers of federal student loans enjoy many benefits including fixed interest rates and a number of income-based repayment plans to select from for repayment. Bottom line, federal student loans are almost always preferred to private ones. For a more complete comparison of federal versus private student loans, click here. But, as with everything…
How to Get Started Dealing with Student Loans
Most student loans have a six-month grace period before you have to start making payments. If you graduated this past spring, that means now is a good time to get a grip on your student loans. Here’s how: Figure out which loans you have. You’ll find all your federal student loans listed in the National Student Loan Data System. Check for private student loans by pulling a free copy of your credit report using AnnualCreditReport.com. Decide whether consolidation makes sense for you. Some student loan…
Department of Education to Contact Federal Student Loan Borrowers, Explain Repayment Options
As first reported, September 3, in The Huffington Post in an article co-authored by Shahien Nasiripour and Joy Resmovits, Sallie Mae, the nation's largest servicer of federal student loans, is failing to enroll many of its distressed borrowers into income-driven repayment plans. "Sallie Mae, a.k.a. SLM Corp., has enrolled relatively few borrowers into the Income-Based Repayment program. Sallie Mae dominates the now-discontinued Federal Family Education Loan Program, owning between 37 and 40 percent of the outstanding…
Sallie Mae Needs To Do More to Educate Borrowers on Repayment Options
Sallie Mae, the nation's largest servicer of federal student loans, is failing to enroll many of its distressed borrowers into income-driven repayment plans, critics say. According to documents obtained by The Huffington Post, "Sallie Mae, a.k.a. SLM Corp., has enrolled relatively few borrowers into the Income-Based Repayment program. Sallie Mae dominates the now-discontinued Federal Family Education Loan Program, owning between 37 and 40 percent of the outstanding FFELP debt held by the private sector. But its share of FFELP borrowers…
