Beware the bad advice out there about managing your student loans
I fully recognize and respect the different views people have on student loans and the use of debt in general. But sometimes I read someone’s advice to those of you with student loans and it makes me...
View ArticleSay NO to co-signing student loans – Part 2
It’s bad enough that student loans are trapping young students in a sea of debt. Encouraging them to take on huge debt loads and keep that debt for 20 or 30 years or more. Yuck! Even worse than that is...
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Is co-signing a student loan ever a good idea?
In my post Say NO to co-signing student loans – Part 2, I shared some real life examples of how co-signing student loans can ruin a parent financially. I shared that article on my LinkedIn page and...
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Maybe President Obama is right about student loans
Every week in this blog I encourage you to avoid student loans for yourself and for your children. But, what if I’m wrong? What if borrowing on student loans is smart? What if you really can’t get a...
View ArticleCo-signing a student loan – a loving gesture or a train wreck in the making?
Co-signing is almost always done as a loving gesture. You want to help your child or a loved one pursue their dream and create a future that is bright and full of promise. Parents, even grandparents,...
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Parent PLUS student loans meet Dumb and Dumber
I loved watching the movie Dumb & Dumber. I’ve always enjoyed what I like to call “stupid humor” movies. Those are movies that take many of the well-intentioned things we all do in everyday life...
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Should you take out a Parent PLUS loan? – Part 1
Parent PLUS loans are federal loans (made by the government) under the Federal Direct Loan Program administered by the U. S. Department of Education. They are loans made directly to the parent of a...
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The new Pay As You Earn student loan repayment program – a blessing or a...
Big changes are on the way in how student loan repayment works. And they are going to make your job of parenting even harder (in a twisted sort of way). If you’re a big believer in the value of debt,...
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Is a small student loan payment wise or foolish? Part 2
In my last post on the new Pay As You Earn (PAYE) program from the federal government, I asked the question “Is a low monthly payment on a student loan smart”? I walked through an example that shows...
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Pay As You Earn can make your child dependent on the government
The new Pay As You Earn plan is likely to have an impact on your child’s financial future that goes way past its original intent. At the core of the new plan is lowering monthly payments on student...
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Pay As You Earn will discourage parents from using their savings to pay for...
The primary value in the new Pay As You Earn program is it provides a safety net for the person that takes out student loans to go to college but has a low income once they graduate (or a low income...
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Student Loan Forgiveness Even if You Make $5,000,000
Do think a borrower could have a household income of $5,000,000, quit work to be a stay-at-home parent, receive a $500,000 inheritance, and still have all their student loans forgiven by the...
View ArticleThe new Pay As You Earn student loan repayment program – A blessing or a...
The new Pay As You Earn program will have a huge impact on your children if they borrow on student loans. In part one of this series, I talked about the new Pay As You Earn (PAYE) program. The...
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Student loans and CRAP: A fun look at the amazing similarities
It’s fascinating how people have such different views on student loans (and debt in general). Some believe you should pay them off fast. Some think you should pay them as slowly as possible. Evelyn...
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The wisdom of paying student loans off quickly
I write in this blog that saving money and paying for college is wise. I talk about the downsides and risks of using student loans to pay for college for yourself or for your child. I talk about the...
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Two young professionals on paying off student loans
I received some very insightful comments on my post about the wisdom of paying student loans off quickly. I usually share these posts in several LinkedIn groups. One of the groups is made up of young...
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Your family legacy: Student loan debt or financial freedom?
One of the decisions you have to make when you have student loans is how to pay them off. Are you going to pay them off quickly after school? Or are you going to go for the lowest monthly payment you...
View ArticleSuccess Stories on the Path to Freedom From Student Loans
The success stories keep rolling in. It is so exciting to hear that more and more people are doing the hard work of reducing their need for student loans and paying them off as fast as possible. My...
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The Wisdom of Paying Student Loans Off Quickly – Part 2
My purpose in this blog is to help you become free from your student loans. I want to convince you that paying your student loans off quickly is smart. That it’s wise. And that it’s an exciting step...
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Are You Justifying Your Student Loans by Defending the Value of Your Education?
I want to clarify something that I think trips a lot people up when thinking about how best to pay off their student loans. There are two different concepts to think about. Your college education The...
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