FedLoan Servicing has problems and is the worst student loan servicer. Their direct debit program is almost a scam for student loan users and their customer service is terrible.
When paying extra on your student loan payment and entering pay ahead status, you could be harming your potential for loan forgiveness.
Student loans can be a great investment in your future, or can be a huge burden if not fully thought out or abused. If you currently have a student loan or are thinking about getting student loans, you should know that student loans CANNOT discharged in bankruptcy (in most cases). This means that they will […]
The TEACH Grant Program is an awesome program that will give you free money to go to school if you plan on becoming a teacher. Currently, the program gives you up to $4,000 per year if you take certain classes and programs to become a teacher. You also have to sign an agreement that states […]
Figuring out who has your student loans can be a major headache and challenge. Over the life of a student loan, it’s not uncommon for it to be transferred several times between servicers. By the time you’re actually ready to pay 4 or 5 years after taking out your first student loan, you may not […]
Student loan deferment lets you temporarily suspend making payments on your student loans. Many loans automatically come with a 6 month deferment period upon graduation (usually to allow an individual time to find employment). This applies to most federal student loans, including Stafford Loans, PLUS Loans, Graduate PLUS Loans, and Federal Consolidation Loans. If you […]
It is estimated that students who graduated in 2009 carried an average of $24,000 in student loan debt, according to The Project on Student Debt. This was an increase of 6% compared to years prior. The scary part is the majority of these students are graduating in one of the worst economic times in years, […]