In 2012, over 70% of students graduating from four-year institutions were carrying student loan debt along with their diplomas. With the average student loan debt being $29,400*, it’s no wonder this is being termed a crisis. While some graduates accept the fact that they will be paying student loans for the next couple of decades, […]
Search Results for: sTUDENT LOAN FORGIVENESS
Why We Chose Income Based Repayment (IBR) For Our Student Loans
With more than 70% of all students graduating college in debt, choosing a student loan repayment plan is as much a part of the graduation routine as ordering your cap and gown. I often get email inquiries about the various student loan repayment programs as graduates are trying to plan their future with student debt […]
Should You Pay Off Student Loans FAST or Just Pay the Minimum?
Most people would agree that credit card debt should be paid quickly, since the minimum payment won’t get you anywhere fast (except maybe more debt). Exceptions may be made for balance transfers with zero interest offers for careful users. Credit card debit is a considered one of the riskier kinds of debt. What about student loans which […]
Public Service Loan Forgiveness– Risks and Considerations
If you have student loans and have considered working in the public sector, you’ve probably heard about Public Service Loan Forgiveness (PSLF). When you see your loan totals upon graduation, loan forgiveness may sound like a wonderful prospect. It may even sound to good to be true. Take a good look at these risks and considerations […]
The Big Fat Goal: Pay Off the Remaining $100,000 in Student Debt in 3 Years
I have dreaded actually sitting down to calculate how long it will take us to pay off the remaining approximately $100,000. I was afraid of what the numbers would say and what that would mean for our future. We really are enjoying our time living in my in-laws’ basement, but we still look forward to […]
November 2015 Debt Repayment Progress Report
Another month has flown by! It’s time again to make our personal finances public by sharing exactly what we earned, spent, and paid on our debt during November. We had a good income in October, which we used to pay November expenses, since we keep a one-month buffer. We are planning on a rockin’ 2016 in […]
October 2015 Debt Repayment Progress Report
October was a kind of expensive month. There wasn’t anything in particular that happened, we just let our spending get high (for us) in a lot of categories as you’ll see below. Our debt payment wasn’t very impressive either, but we’re not losing momentum. Isn’t it crazy that $58K could feel like the “home stretch?” We […]
Making Your Debt Attack Plan
One really important piece of your Frugal Fresh Start is getting a handle on any debt that you have. Our own current financial goal is to pay off mortgage debt, so this is a topic that’s always at the top of our minds. If you don’t have any debt at all, congratulations! You can skip […]
Debt Discussion Series: Weekly Debt Articles
Just about every Wednesday, I publish a “Debt Discussion,” an article about a debt-related topic. My hope is that these discussions will allow us a place to talk about debt openly and get ideas and encouragement from one another. I have divided my debt articles up into subcategories here for easy navigation. If you have an idea […]
Avoiding Entitlement in Debt Repayment
Not long ago, my kids began claiming “It’s not fair!” whenever anything didn’t go their way. Trying to curb the habit, we are constantly reminding them what “fair” actually means. The rule is that if you finish your dinner, you can have dessert. When only one child finishes dinner and gets dessert, the others cry, “It’s […]
