student loans

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Buy yourself some time with student loans

May 10, 2012
I am 26 years old and recently graduated from grad school. I have about $28,000 of loan debt, from both undergrad and grad school. My deferment is up next month, and without changing or consolidating anything, I will owe more than $500/month. I work for a non-profit and cannot make that high of a payment. I know I have some options for repayment and consolidation. I am trying to find a balance in which I am paying what I can afford each month, but not extending my loans so much that I am paying an absurd amount of interest. Elisa, Bozeman, MT
Posted In: student loans, federal student loans, student loan repayment plans

Cutting public health to pay for student loans

May 8, 2012
Republicans want to use money for preventive care to cover lower interest rates
Posted In: public health, student loans, health care reform law

The risks of buying with no money down

May 1, 2012
I recently was accepted to grad school, and my wife and I will be moving from Michigan to New Mexico. We are having a debate as to whether we should buy a home. After I finish my degree, I would like the freedom to leave New Mexico, if necessary, without having to worry about selling a home. My wife doesn't like the idea of paying rent and getting nothing back from it. Any and all advice would be much appreciated.
Posted In: home, homeownership, rent, student loans, Graduate school, mortgage

Federal student loans at death

Apr 30, 2012
I've got a fair amount of student loans. I've also got a good job as a college professor, and I will be able to pay them off eventually. But I'm concerned about my wife. If something should happen, do student loans transfer to a spouse or do they stick with me? Rudolf, Providence, RI
Posted In: frederal student loans, private student loans, student loans, death

The Income Based Repayment option for student loans

Apr 13, 2012
I'm helping my girlfriend organize her student loans while she's wrapping up her final semester of architecture (grad) school. The Income Based Repayment plan is likely her best option for repayment. She's going to owe about $135,000 and expects to make about $65,000 in her first year out of school. Yes, it's a lot of debt! However, there is a significant amount of uncertainty around the program. There are two versions. In one, you pay 15 percent of your income over 150 percent of the poverty line for a maximum of 25 years. Anything left after the loan is forgiven. There is a newer version for borrowers' 2012 loans that is only 10 percent over 20 years. I'd like to verify that she's eligible for this newer program. Matthew, Brooklyn, NY
Posted In: student loans, student loan repayment options, income-based replayment plan

Public service and student loan forgiveness

Apr 12, 2012
Your recent show on Federal Student Loans and associated debt kept my attention. A comment was made about possible forgiveness of a loan for someone who has been good with payments for years and has worked for civil service or non-profits. I'm in the non-profit sector (have been for 15+ years) and want to know how I might go about addressing that with the remaining principal on my Sallie Mae loan balance. Thanks. Gerri, Belmont, MA
Posted In: student loans, student loan forgiveness, public service

Parents and graduate school

Apr 9, 2012
What do you suggest is the best way for middle-income baby boomers to support their children's post-bachelor's degree educations? Anne, Burlington, VT
Posted In: Graduate school, student loans, retirement savings, personal finances

A Roth and student loans

Apr 2, 2012
I am graduating from medical school. I have debt of about $170,000 at 6.8 percent non-compounding interest and $12,000 at 4 percent. I also have a Roth IRA with about $4,000 in it. Should I invest in my Roth IRA while making payments next year? I make $45,000 next year then $52,000 the year after, then $60,000 the third year. Do I put everything I can into paying off debt, or do I try to put a little in the Roth while making my income-based repayments on the loan? (Expected payoff is in 10 years.) John, Wauwatosa, WI
Posted In: Roth-IRA, student loans

New social finance site for student loans

Apr 2, 2012
SoFi launches an experimental new, community-based student lending program that provides students with lower cost loans and school alumni with a unique investment opportunity.
Posted In: social lending, student loans, lending, education costs

Student loan debt collectors under the microscope

Mar 26, 2012
Are debt collectors working for the Department of Education letting debtors know their rights? Bloomberg's John Hechinger discusses the rights of borrowers.
Posted In: student loan debt, student loans, debt collection, CFPB

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