college Archives - Page 11 of 12 - Student Debt Diaries

Instead of Gifts, Ask Friends and Family to Donate to 529 Plans

August 27, 2018 Jordan RothmanAdvice for Parents

contribute to 529 plans instead of providing gifts

Many parents are probably very familiar with 529 savings plans. For those who do not know, 529 plans are tax-advantaged funds that encourage individuals to set money aside to pay the educational expenses of a future student. Many people assume that parents are the only individuals who can contribute money to a 529 plan. However, anyone can contribute to a 529 plan, and more people should contribute to 529 plans instead of providing gifts to… Continue Reading Instead of Gifts, Ask Friends and Family to Donate to 529 Plans

Deciding If You Should Pay for Your Children’s Educational Costs

August 20, 2018 Jordan RothmanAdvice for Parents

It is usually assumed that you should pay for your children’s educational costs if you are financially able to do so. And this of course makes sense, since student debt can restrict millennials from achieving a number of life goals. As previously mentioned on this website, student loans can impede recent graduates from buying a home, saving for retirement, and achieving a number of other financial aspirations. Having parents pay for educational expenses can be… Continue Reading Deciding If You Should Pay for Your Children’s Educational Costs

Handling Agreements to Repay Parents for Fronting Educational Costs

August 13, 2018August 13, 2018 Jordan RothmanAdvice for Parents

Repaying Parents for Fronting Educational Costs

Most articles on this website are directed toward individuals who borrowed student loans to pay for their educational costs. However, some people are fortunate enough to have parents who will pay for college and graduate school for their children. Some parents are wealthy enough so that they are able to pay for the educational costs of their kids without ever requiring their children to pay them back. However, other parents expect their kids to pay… Continue Reading Handling Agreements to Repay Parents for Fronting Educational Costs

Parents Can Help Their Kids Refinance Student Loans

July 30, 2018March 10, 2022 Jordan RothmanAdvice for Parents, Refinancing Student Loans

Many parents of student loan borrowers are probably very familiar with the concept of refinancing debt. Indeed, numerous individuals refinanced mortgages after the Great Recession to take advantage of historically low interest rates. In addition, many individuals also have experiences with refinancing credit card debt and other types of loans. Refinancing debt usually allows borrowers to spend less money on interest and enables individuals to pay less each month to service their debt. Student loan… Continue Reading Parents Can Help Their Kids Refinance Student Loans

Advice for Parents of Student Loan Borrowers: An Introduction

July 23, 2018July 23, 2018 Jordan RothmanAdvice for Parents

This website has previously provided advice on a number of subjects related to student loans. Indeed, prior articles have discussed repayment strategies, ways to save money, refinancing tips, and a number of other topics related to student debt. All of these prior articles have been directed to student debt borrowers. However, this website has not yet included advice for parents of student loan borrowers, even though parents are typically interested in issues related to student… Continue Reading Advice for Parents of Student Loan Borrowers: An Introduction

Fighting Against the Student Loan Scammers

June 21, 2018March 11, 2022 Adam RothmanGuest Articles, Repayment Strategies

Student loans are no joke. For those who rely on them to complete their education, these loans can soon become significant burdens. Monthly student loan payments often represent large portions of people’s discretionary incomes, and may prevent recent graduates from making key life decisions due to financial instability (marriage, children, homeownership…the list goes on). While cosigners can sometimes ease the burdens on student loan borrowers, they can also create a whole other set of problems… Continue Reading Fighting Against the Student Loan Scammers

An Introduction to Student Loan Refinancing

June 4, 2018March 10, 2022 Jordan RothmanRefinancing Student Loans, Student Loan Repayment Guide

I am sure that everyone with student loans has probably heard about student loan refinancing at one point or another. Refinancing is one of the hottest trends in the student loan industry, and I am willing to bet that almost every recent graduate knows someone who has refinanced their student loans. Many people have emailed me over the past several months to ask for advice on whether they should refinance their student loans and which… Continue Reading An Introduction to Student Loan Refinancing

How to Decide If Attending College Is Right for You

May 28, 2018 Jordan RothmanChoosing Schools

This website has already discussed numerous ways that individuals can pay off their student loans. The blog has also including some considerations students should assess when choosing which schools to select. However, the website has not yet tackled how to decide if attending college is right for you. In our modern economy, it is usually assumed that everyone graduating high school should attend college. Indeed, a college degree is typically seen as a necessary credential… Continue Reading How to Decide If Attending College Is Right for You

Graduating Early Can Help Minimize Your Student Debt

May 21, 2018 Jordan RothmanChoosing Schools

This website has already discussed numerous ways that individuals can save money when choosing which college or graduate school to attend. Indeed, prior articles have related how scholarships are available for many students, and individuals can attend school part-time while working in order to minimize costs. Another way to save money on educational expenses is to attend a school that will allow you to earn a degree in less time than it usually takes to… Continue Reading Graduating Early Can Help Minimize Your Student Debt

Dealing with the Bankruptcy of a Student Loan Cosigner

May 17, 2018March 11, 2022 Adam RothmanGuest Articles, Repayment Strategies

In a previous article, I delved into the issues that can arise when a student loan cosigner dies, and how to best deal with any problems that may result. This time around, I will talk about a rarer, though sometimes more problematic dilemma: what to do when a cosigner declares bankruptcy. While renegotiating the terms of the student loan may still be an option, the worst case scenario (an automatic default) is what commonly occurs.… Continue Reading Dealing with the Bankruptcy of a Student Loan Cosigner