According to the nonprofit American Student Assistance, there are approximately 37 million people with student loans in the United States today, and the average balance is about $24,000. Friends, this is not good debt. And Congress would like to double the student loan interest rate on federal student loans, starting in July. The terms on [...]
The Collection of Student Loan Debt Articles
Here is the collection of all the articles on student loan debt that I've written here at The College Investor. However, it's in chronological order. If you want a better resource, check out my Everything Student Loans page for more information on student loans and student loan debt. If you want the most comprehensive guide available, download my free eBook on student loans: Student Loan Debt: Getting in Smart, Getting out Painlessly.
Is College Worth the Investment?
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While the thought of incurring student loan debt makes many prospective students reconsider pursuing post-secondary education, the impact of a degree still outpaces the pain of loan debt on future financial well-being. A college degree represents as sound investment future earnings. The financial return over a lifetime makes an undergraduate education the a sound investment. [...]
The Best Way to Avoid Student Loans in College
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You could spend literal weeks on end scouring the internet for the elusive college scholarship. You may submit thousands of applications, write hundreds of essays, and do some really stupid things to try to win a college scholarship. For the vast majority of us these efforts may win us some money, but it will be [...]
Things to Consider Before You Apply for Student Loans
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Talk to just about anyone who is currently repaying their student loans and they will likely tell you that there are lots of things they didn’t know or wished they would have done differently when they got their student loans. One of the most popular misconceptions about student loan debt is that it is “good [...]
Investing IN Student Loans – The Unconventional Options
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Last week I wrote a post about whether or not investing student loans was right for you. We looked at the ethical and legal barriers, and the challenges that you would face in using student loans as investment seed money. Today I want to look into the other side of that thought; whether or not [...]
Investing Student Loans – Is It Legal and Should You Do It?
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Investing student loans has been a hot button issue for many years. At the peak of the stock market in 2006, it was a commonly held belief that investing student loans was a wise and safe decision. Fast forward to 2013 with the bull market running in full force again, and investors are much more [...]
How to Pay Off Student Loans Before Going Gray
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Last week, I got a letter in the mail from ACS. It said, “Congratulations! Our records indicate that you have successfully paid off your student loan.” I was thrilled, to be sure, but on the other hand, I’m 31 years old. I felt like I should have paid this off years ago. I hardly resemble [...]
Student Loan Interest Deduction – Savings or Scam?
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It’s tax time, and if you’re a college student or young adult, one of the most common tax deductions that you receive is the student loan interest tax deduction. But like everything else, is this tax deduction actually helpful, or does it encourage poor behaviors? Let’s look at whether the student loan tax deduction is [...]
Life After Debt
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Last week, I paid off my student loans. Pause for applause. Now, all I have left is a car loan. And that’s low enough to be gone before I can wear short sleeves outside. I feel like a balloon, barely tied to the bench at the picnic table. It’s secure, but the knot is loosening. [...]
10 Solid Tips to Pay Off Your Student Loan Quickly
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A lot of college students borrow money to pay for their higher education expenses. However, it can prove to be overwhelming if you graduate with student loan debt hovering over your head. Here are ten tips to help you pay off your student loan in a shorter amount of time so that you can live [...]
Is Your Identity Linked to your Financial Troubles?
By 5 Comments
I’ve started the process for filing my taxes for 2012. And right now, the little progress bar of my online tax software is telling me that the amount of my refund is higher than my total remaining debt. I know that might change once I put more information into it, and that’s okay. As an [...]
Reader Question: Applying for a Mortgage While using Income Based Repayment
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Welcome to another reader question! This question comes from John, who is trying to get a mortgage while being on an income based repayment (IBR) plan for his student loan debt. Here is John’s story and the question: I have about $80,000 in student loan debt and am currently on the Income-Based Repayment Plan (IBR [...]
How Much Should Parents Help Their College Student Financially?
By 5 Comments
A challenging question that most parents will face as their kids are ending high school is – how much should they help their college student financially? It’s a tough question, because with the rising cost of tuition (and room and board, and textbooks, etc.), the return on investment of education is starting to be pretty [...]
Changing Course: Going Back to School
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Although politicians and economists claim that the recent recession has been over for some time, many parts of the country have not recovered, and another recession is rumored to be on the horizon. Because entire industries have disappeared during recent years, formerly working adults have returned to school in record numbers. Popular Choices Health [...]
Is College a Good Investment?
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This is a guest post from Jon Haver who graduated from college with student loans and now writes about how he paid them off at paymystudentloans.com When is a college education a good investment? Of the 15.6 Million undergraduate students who are in university right now, how many have had a serious look at whether [...]
How to Survive Your Student Loans
By 5 Comments
It’s no secret that student loan debt has gotten wildly out of hand in the past few years; in August of 2012, it hit $914 billion. But what else are you supposed to do? Getting a decent job is pretty much impossible without at least a bachelor’s degree and tuition is just flat-out expensive. Even [...]
Infographic: Student Loan Debt
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Infographic created in conjunction with http://www.caxtonfx.com. For more information on student loan debt, check out my free eBook on Student Loan Debt.
How To NOT Get A College Scholarship
By 7 Comments
I got an interesting request the other day, which was probably spam, but it gave me a great idea for a post, because although the email was extreme, it highlighted a common problem I see everyday. It is the basic question of how to ask for free money! Everybody wants free money, in the form [...]
Student Loans vs. Payday Loans
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When looking at alternatives for paying for your education, you may be interested in something beyond the standard student loan. And through your research you may have considered using an alternative type of loan, such as a payday loan. Here are the similarities and differences between student loans and payday loans. What’s Involved in [...]
Student Alert: The New Student Loan Scam to Avoid
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I’ve written a lot about student loans, especially when it comes to the perils of them. I’ve even written about the top student loan scams before. However, every time I hear of a new scam that is targeting individuals already plagued by student loan debt, it just irks me. So, I want to put out [...]
