student loans


Thinking about savings and debt

Jan 4, 2012
I've got a bunch of student loans, all at relatively low rates (3.5 percent and lower). I have just under $35,000 at this point. I've been auto-transferring money into my savings accounts -- for "emergency funds" as well as future goals such as a down payment, wedding, etc. I have around $48,000 total in savings (between those funds). That money is sitting in savings at less than 1 percent. Mathematically, it makes more sense to pay down the debt. But I'm not comfortable with decreasing my savings that much. How to I choose? Stephanie, Medford, MA
Posted In: Savings, debt, student loans

A law degree and student loans

Dec 28, 2011
I have both private and federal student loans from undergrad and law school... I was wondering if you have any advice as to how best to manage this debt? I'm 28 and single so my financial obligations are otherwise relatively minimal for now, but due to my debt-to-income ratio, I've been unable to really lay away much in the way of personal savings in the 3+ years I've been out of school, let alone start saving for retirement. I'd really appreciate any advice you might be able to give to someone in my situation. Thank you! Kira, New York, NY
Posted In: Retirement, Law, career, student loans, debt

Rehabilitating student loans

Dec 21, 2011
My fiancée has a student loan that defaulted but is now paying on it every month. She has been told that it can't be rehabbed because of the default (even though others that have defaulted can rehab a second time). She doesn't make that much money, and she is filing bankruptcy because of various debts. She knows she can't bankrupt the student loan. What are the options other than making regular monthly payments, or not paying? Brian, Waterville, ME
Posted In: student loans, private student loans, default

Federal student loan funding could be cut

Dec 15, 2011
The countdown begins in Washington to come up with a budget before midnight tomorrow, and one place cuts could come from are federal student loan programs.
Posted In: student loan debt, student loans, Pell grant

The co-signer's curse

Dec 12, 2011
I co-signed a friend's private graduate student loans in 2005. She was an international student, which is why she needed the co-signer to get approved. In 2007, she had a stroke and moved home to Costa Rica. She hasn't gotten a job and taken responsibility for paying the loans since then. How can I get off of the loan agreement as a co-signer? Ryanne, Washington D.C.
Posted In: student loans, cosigner

Focusing on debt, but which one

Dec 6, 2011
My husband and I have extra money each month, a healthy emergency savings account, and we save for retirement through our work plans. (I should point out we are in our 20s.) We recently bought a home and now have a mortgage of $130,000 at 4 percent interest. We also have approximately $80,000 in student loan debt for our graduate degrees at 6.8 percent interest. With our extra spending money each month, should we tackle the student loan debt first? Pay down the mortgage? Both? Or some other option? Carolyn, Duluth, MN
Posted In: student loans, mortgage interest deduction, Savings

Don't pay off student loan

Nov 30, 2011
We have a student loan for our daughter of about $120,000. Should we use our retirement funds to pay it off? Our house will be paid off in 5 years and we have about $20,000 in revolving debt. Please advise. Thanks. James, Houston, TX
Posted In: student loans, retirement savings

The loan forgiveness safety valve

Nov 9, 2011
Question: Having $138,000 in student loans at 9% I would pay just about $160,000 in interest if I go 20 years to get forgiveness for the loan. Is...
Posted In: Getting Personal, student loans

Parent loans for college

Nov 4, 2011
Question: My son has been accepted to a good out of state private college after completing his 2 year degree at a local community college. However,...
Posted In: Getting Personal, student loans

College and a refinancing

Oct 31, 2011
Question: I have a question about what term to refinance for given that I have a child that will enter college in about 15 years. If I refinance...
Posted In: Getting Personal, student loans