As we enter into this year’s prime tax season, many recently married couples face a new problem when filing their taxes. This is a new problem they probably did not discuss but could have a significant impact on their financial future. The advice for repaying student loans and marriage is limited. If you call the…
Trying to pay for college and avoid excessive debt is high on the list for most families today. As we sit down for Thanksgiving dinner this year, a common family conversation may evolve around the college decision, college major and the high cost of college. What most families don’t take into consideration is the added…
Splashed across the headlines we often hear about student loan debt and its lasting consequences on the borrower. I feel fixing the consequences of student loan debt can be helped beginning with the college selection. The majority of families do not understand the outcome of the student debt during the college decision process. As of…
For many federal loan borrowers, this is the time of year to recertify your Income Driven Repayment Plan (IDR). Many borrowers do not realize that this needs to be done annually if the borrower has selected a repayment option that is based on the borrower’s income. The months of October, November and December are very…
The student debt crisis now affects approximately 44 million people and the total dollar amount has doubled since 2009. A missing piece of this discussion is the amount of parents affected by student debt. Parent student loans are becoming a growing concern. According to a CFPB report, the average state has approximately 2.2 billion dollars…
Haverford High School College Planning Program involves a series of information nights that cover three financial aid nights and two college application nights for the families of our township. Fred Amrein, an expert in college funding and student loan repayment will be the speaker on the financial aid topics. His presentations help parents understand how…
President Trump has released the 2018 budget proposal this week and based on the initial review it appears that higher education will face significant reductions, specifically to student aid programs. These projected budget changes total over $143 billion in savings over the next 10 years. For the Department of Education, it would represent a 13.5%…
Across the news headlines, we read daily about the student debt crisis in America. Since last summer, I have been reading articles about how companies are starting to identify student loan repayment as a possible new employee benefit. This is not surprising since current student debt is over $1.4 trillion dollars and many younger employees…
The Federal Direct Student Loan interest rates for the school year 2017-2018 have been determined. The student loan interest rate is 4.45 % for Undergraduate Direct loan program, which is an increase over the 3.81 % of last year. The Graduate Direct loan rate will be 6.00% and the Direct PLUS will be at 7.00%.…
The stress of the college decision process is complete for most families, congratulations! The next step is paying for college. Due to the high cost of college, many families may be considering a Parent PLUS loan as an option. Here are some items to consider when financing your child’s education with a Parent PLUS Loan.…
