balance Archives - Student Debt Diaries

Middle-Class Students Fall Through The Cracks Sometimes

May 10, 2021May 10, 2021 Jordan RothmanRepayment Strategies

When people think of students who have the most issues with student loans, they likely think that low-income students face the most challenges. Indeed, low-income students often do not have relatives who can afford to help with educational expenses and this can lead to a high debt load among low-income students. Of course, high-income students have less to worry about when it comes to educational expenses because their parents can often assist with educational costs.… Continue Reading Middle-Class Students Fall Through The Cracks Sometimes

Saving Money While Quarantining at Home

March 30, 2020March 30, 2020 Jordan RothmanSaving Money

The ongoing COVID-19 pandemic has impacted almost every part of daily life for many individuals. Indeed, most people are currently confined at home in order to help slow the spread of the virus and to ease overburdened healthcare systems. Furthermore, many people are being forced to work remotely because numerous offices have been shuttered due to the pandemic. However, saving money while quarantining at home is possible in a variety of circumstances, and the money… Continue Reading Saving Money While Quarantining at Home

Invest Available Money Whenever Possible

February 10, 2020February 10, 2020 Jordan RothmanRepayment Strategies, Saving Money

This website has previously discussed how student debt borrowers, and pretty much everyone else, should save money for emergencies. It is important to have some cash stashed away in case you are laid off, face medical issues, or experience a number of other problems in your life. Most experts advise individuals to put six months of living expenses aside for emergencies, but this does not all need to be in cash. Indeed, individuals should invest… Continue Reading Invest Available Money Whenever Possible

Investing to Pay Off Student Loans

November 4, 2019 Jordan RothmanRepayment Strategies, Saving Money

This website has already discussed how earning extra money is critical to paying off student loans. The more money you have, the more resources you possess at your disposal to take care of living expenses and devote money to student debt. Prior articles have discussed how individuals can work a number of side-hustles to earn extra money, and part-time work can increase the amount of money you have to pay off debt. However, if you… Continue Reading Investing to Pay Off Student Loans

Credit Cards Can Help You Pay Off Student Loans

September 30, 2019 Jordan RothmanRepayment Strategies, Saving Money

Everyone knows that in order to pay off student loans, you need to cut expenses so that additional cash can be devoted to student debt. One way to do this is to minimize your use of credit cards so you do not spend money unnecessarily and rack up additional debt. As mentioned previously on this website, I did not apply for a credit card until later in my student debt repayment journey, so I could… Continue Reading Credit Cards Can Help You Pay Off Student Loans

Keep the Standard Repayment Plan

September 2, 2019 Jordan RothmanRepayment Strategies, Saving Money

As many student debt borrowers already know, individuals have many repayment options when paying off their student debt. Some repayment plans increase the monthly payment amount over time, and this may be helpful, since borrowers usually earn more money over the course of their careers. Other repayment options allow borrowers to pay off their student loans over different time periods, usually between ten to twenty years. Of course, the more time an individual has to… Continue Reading Keep the Standard Repayment Plan

Student Debt Repayment Gets Easier Over Time

April 29, 2019 Jordan RothmanRepayment Strategies

Student debt repayment can seem like a daunting challenge. Indeed, someone who is about to graduate from school, and looks at the amount of student loans they have racked up over years, may wonder how they will ever pay off this debt. Student loans can be especially daunting for recent graduates who do not yet have employment lined up, and otherwise do not have a plan for repaying their student loans. However, student debt repayment… Continue Reading Student Debt Repayment Gets Easier Over Time

Making Big Purchases While Paying Off Student Loans

April 22, 2019 Jordan RothmanRepayment Strategies, Saving Money

Paying off student loans can financially strain even the most frugal and cost-conscious of borrowers. Indeed, making monthly student debt payments can drain a borrower’s financial resources so that individuals cannot save money or devote funds to purposes other than debt repayment. This financial rigidity can also make it difficulty to deal with a life emergency or to purchase major items that all of us need to buy at some point or another. However, making… Continue Reading Making Big Purchases While Paying Off Student Loans

Dual-Degree Programs Can Save You Money

November 19, 2018 Jordan RothmanChoosing Schools

Most people follow a traditional path when they obtain their college and graduate degrees. Usually, individuals attend college for four years, and then attend graduate school for one, two, three, or more years depending on the degree which they are pursing. However, sometimes individuals can obtain two or more degrees at the same time in less years than it would take to obtain the degrees separately. These dual-degree programs can save you money, since students… Continue Reading Dual-Degree Programs Can Save You Money

How to Pay Off Student Loans Without Hurting Your Credit Score

February 5, 2018February 5, 2018 Jordan RothmanRepayment Strategies, Student Loan Repayment Guide

Many people believe that paying off student loans is good for one’s credit score. Of course, paying down debt demonstrates great financial responsibility and shows that you can be trusted to borrow more money in the future. In addition, being free from student loans means that you do not have outstanding financial obligations that could limit you from paying off other loans. However, the geniuses at the credit bureaus have strange rubrics for assessing one’s… Continue Reading How to Pay Off Student Loans Without Hurting Your Credit Score