In Part II of our series on student loans, we’re looking beyond the topic of general student loan forgiveness… and exploring what to do to better manage the burden of the student debt you have to carry.
In Part I of this quick series on student debt, we talked about the potential for total student loan forgiveness — and covered the fact that there are a lot of forgiveness and repayment programs already out there.
We also talked about the fact that getting wrapped up in the politics of what may or may not happen with total student loan forgiveness will drive you insane!
So with Part II of our series on student debt, we want to help you focus on what you can control and do with your money right now.
In Part II, we cover:
- How to make a debt repayment plan (and implement it)
- What makes up a customized plan, including looking at your complete financial situation, evaluating your options, developing the best financial strategy for dealing with your loans without sacrificing your goals or future financial success, and giving you an objective plan to follow
- The factors that indicate you need to work with a professional to help you get the best plan for you in place
- Potential options like refinancing or consolidating your student debt (and why they’re not the same thing
- Resources you can use to help you better manage your student debt
Jump into Part II of our student loan series here:
Further Reading & Resources
- Part I of this series: Total Student Loan Forgiveness – Yay or Nay?
- Adam Minsky, bostonstudentloanlawyer.com
- Heather Jarvis — specifically, askheatherjarvis.com/tools
- The Federal Student Aid website at studentaid.edu.gov
- Student Loan Hero is a great website for general educational content around loans (just keep in mind that they may recommend certain products or services and they’ll earn a commission or advertising fee for doing so).
- In extreme cases, contact your loan servicer to ask about deferment or forbearance options, or other solutions if you feel you simply cannot handle your student debt burden. It is always better to contact your loan servicer and ask for their help or what your options are if you feel you cannot handle your student loan balances or don’t know what to do rather than ignore your loans or stop paying them.
- First Republic tends to have excellent refinancing rates for student loan borrowers (but always shop around to get the best quote for you and make sure to read any and all fine print!).
- Edmit is a company that works to help students understand what a responsible level of debt looks like before they borrow.
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