debt Archives - Student Debt Diaries

Student Loan Refinancing Is Still Worth It

March 21, 2022March 21, 2022 Jordan RothmanRefinancing Student Loans, Uncategorized

As many student debt borrowers already know from their own research, student loan refinancing is when an individual contracts with a new lender so that their student loans are paid off and they pay the new lender a lower interest rate. Student loan refinancing is attractive to student debt borrowers facing a number of situations since this can reduce the amount of interest a borrower pays over the life of the loan. Due to recent… Continue Reading Student Loan Refinancing Is Still Worth It

Student Debt Issues of First-Generation Students

December 20, 2021 Jordan RothmanIntroductory Articles

Many people who attend college have had someone in their family attend college before them. It is of course easier for people to make life choices if someone they trust made similar decisions before them because these trusted people can provide advice and guidance on how to proceed. However, there are student debt issues of first-generation students about which people should be aware so that they can help ensure that first-generation students are more successful… Continue Reading Student Debt Issues of First-Generation Students

Using Student Loan Money for Other Purposes

December 13, 2021December 13, 2021 Jordan RothmanRepayment Strategies

Obviously, when people borrow student debt, the reason they are loaned money is to pay for educational expenses. However, students are usually allowed to borrow money in order to pay for living expenses, and this can sometimes be a significant sum of cash. Students can decide to use this part of their student loans for purposes other than paying for housing, food, and related expenses. However, student debt borrowers should keep some things in mind… Continue Reading Using Student Loan Money for Other Purposes

Dealing with Inflation

December 6, 2021December 6, 2021 Jordan RothmanRepayment Strategies

As many people might have heard on the news recently, the United States, and indeed much of the globe, is experiencing the worst inflation in decades. For those who may not know, inflation is when prices of goods and services increase. COVID-19 is making it more difficult to ship goods, and the scarcity of goods along with pressures in the job market are increasing prices. Everyone needs to contend with inflation since it seems like… Continue Reading Dealing with Inflation

Repairing Your Credit

November 29, 2021November 29, 2021 Jordan RothmanRepayment Strategies

Student debt borrowers may take a hit on their credit score at one point or another during their student debt repayment saga. This usually occurs if a borrower is late in making payment or if it looks like a borrower may not be a solid credit risk in the future. Credit is important to achieving numerous financial goals such as buying a car, purchasing a home, or pursuing other accomplishments. However, repairing your credit can… Continue Reading Repairing Your Credit

Asking for a Raise to Help Pay Off Student Debt

November 22, 2021November 22, 2021 Jordan RothmanEarning Extra Money

As this website has discussed in several prior articles, the income you earn from your main job will be the primary means by which you can pay off student loans. As much as you earn from side-hustles, and save through various financial sacrifices, the money you make from your main job will have the biggest impact on your student debt. Throughout the course of my student debt saga, I received raises, and this made it… Continue Reading Asking for a Raise to Help Pay Off Student Debt

Saving Money on Textbooks

November 15, 2021 Jordan RothmanSaving Money

College textbooks and course materials for most graduate programs can be extremely expensive. Indeed, it is not uncommon for students to spend between $500 and $750 on textbooks per semester depending on the courses and the degree that the student is pursuing. Since most college students need to borrow money to attend school, they may need to take on more debt to pay for textbooks they need for class. However, when saving money on textbooks,… Continue Reading Saving Money on Textbooks

When You Should Consider Community College

November 8, 2021 Jordan RothmanChoosing Schools

Community colleges are affordable higher education institutions that usually offer two-year degrees and credentials in a variety of vocational programs. Some community colleges offer four-year degrees, and certain community colleges may permit students to complete courses to earn credentials at other institutions. In any event, community colleges are usually an affordable option since credits typically cost a fraction of the price at a community college than at a traditional university. Although community colleges may not… Continue Reading When You Should Consider Community College

Preparing for the Student Loan Restart

November 1, 2021 Jordan RothmanRepayment Strategies

As many readers of this website already know, borrowers of federal student loans have not needed to make student loan payments since the beginning of the COVID-19 crises. This has permitted student debt borrowers to focus their financial resources elsewhere, which has been helpful because layoffs and other financial disruptions as a result of the COVID-19 crises have negatively impacted millions of Americans. However, it appears as if the federal student loan pause will expire… Continue Reading Preparing for the Student Loan Restart

Mental Health Issues While Repaying Student Debt

October 25, 2021October 25, 2021 Jordan RothmanRepayment Strategies

Student debt borrowers may face numerous sources of stress and anxiety while repaying student loans. Indeed, many student loan borrowers might not have the resources to meet all of their financial responsibilities and this can create a lot of mental health issues. In addition, the dread created by student loans and the magnitude of the debt can also be a source of stress. So long as you keep a few things in mind, dealing with… Continue Reading Mental Health Issues While Repaying Student Debt