saving money Archives - Page 5 of 15

Money Saved from the Student Loan Freeze

February 1, 2021 Jordan RothmanRepayment Strategies

As many people already know, the federal government has frozen federal student loan payments to deal with the ongoing COVID-19 pandemic. In addition, qualifying loans will not accrue interest until later this year. Although only certain types of borrowers are entitled to stop making payments, money saved from the student loan freeze can be devoted to a variety of purposes. Pay Down Other Debt Perhaps the most practical thing you can do with money saved… Continue Reading Money Saved from the Student Loan Freeze

Financial Aid Should Increase over Time

January 25, 2021 Jordan RothmanChoosing Schools

When I attended college, I was thrilled to obtain need-based financial aid. This assistance made it much easier for me to pay for my educational costs and reduced the amount of student debt I needed to borrow. However, financial aid should increase over time, and students should not be provided the same level of aid each year they attend school. In college, my financial aid stayed constant throughout my four years as an undergraduate. One… Continue Reading Financial Aid Should Increase over Time

Attending Part-Time Programs Full-Time

January 11, 2021 Jordan RothmanChoosing Schools

This website has discussed how part-time academic programs can help students reduce their student loan burden. Indeed, if students attend school only on nights and weekends, it is possible that students can work jobs with the rest of their time. This can enable students to pay for part or all of their educational costs as a student. However, in certain circumstances, attending part-time programs full-time can also have an impact on your student debt burden.… Continue Reading Attending Part-Time Programs Full-Time

Establishing Residency for In-State Tuition Discounts

January 4, 2021 Jordan RothmanChoosing Schools

Some colleges offer different tuition rates for students depending on if they reside within the state or from a location outside of the state in which a college is located. The reasoning behind this policy is that state funds are used to support some universities and so state residents, who presumably pay to support the school indirectly through taxes, should receive a discount on tuition. However, even if you are originally from out of state,… Continue Reading Establishing Residency for In-State Tuition Discounts

Earning Extra Money Makes Saving Easier

December 28, 2020 Jordan RothmanEarning Extra Money

Earning extra money is an important part of paying off your student loans early. If you have a main job that pays for all of your living costs and expenses, then any money you make on the side can be completely devoted to student debt. Indeed, earning extra money is one of the reasons why I was able to pay my student loans years ahead of schedule. However, earning extra money makes saving easier, and… Continue Reading Earning Extra Money Makes Saving Easier

How Mortgages Are Different Than Student Loans

December 21, 2020December 21, 2020 Jordan RothmanRepayment Strategies

After repaying student loans, it might be difficult for student debt borrowers to feel comfortable about borrowing money for other purposes later in their lives. Indeed, after repaying student loans, I was debt-free for the first time in my adult life, and the feeling was amazing. However, after some research, I decided to borrow a mortgage in order to buy a home. For a variety of reasons, mortgages are different than student loans, and student… Continue Reading How Mortgages Are Different Than Student Loans

When You Should Pay Student Loans Every Month

December 7, 2020December 7, 2020 Jordan RothmanRepayment Strategies

This website has previously discussed some of the practicalities of paying off student loans. Indeed, prior articles have considered methods that can be used to keep track of student loans, and other articles have discussed how methods can help you psychologically while you repay debt. One question that is commonly asked by student debt borrowers is when you should pay student loans every month, since many lenders allow borrowers to designate a given date when… Continue Reading When You Should Pay Student Loans Every Month

Ordering Take-Out While Repaying Student Loans

November 30, 2020 Jordan RothmanSaving Money

As this website has detailed in several prior articles, saving money is critical to repaying student loans early. Indeed, a dollar saved is oftentimes more important than a dollar earned, because you do not need to pay taxes on money you save like you often must on money you make. Individuals hoping to pay off student loans often need to make their own meals to save money, but ordering take-out while repaying student loans is… Continue Reading Ordering Take-Out While Repaying Student Loans

Picking a Repayment Plan

November 23, 2020November 23, 2020 Jordan RothmanRepayment Strategies

Many student debt borrowers have a variety of repayment plans they can choose from when repaying their student debt. Indeed, most student loan borrowers are put on a default repayment plan that usually requires them to pay off their student loans on a ten-year schedule. However, borrowers can sometimes choose to repay their student loans over twenty or even twenty-five years in certain situations. In addition, some repayment plans alter the amount of money owed… Continue Reading Picking a Repayment Plan

Juno Can Help with Student Loans

November 9, 2020November 14, 2020 Jordan RothmanRefinancing Student Loans

Student Debt Diaries has promoted a variety of organizations within the student loan community since the website was launched over three years ago. I recently had a discussion with folks at Juno, a company that is part of the student loan refinancing space. For a variety of reasons, Juno can help with student loans, and student debt borrowers should check out this company in order to seek assistance with their student debt. The main way… Continue Reading Juno Can Help with Student Loans