Author: Amanda Reaume

This Grad Paid Off His Loans After Forbearance Caused His Loans to Balloon

When it comes to your student loans, you want them to decrease in size over time, but that’s not what happened for financial coach Cornelius Davis Jr. He took out $38,000 in student loans for a master’s degree in Urban and Regional Planning at Jackson State University, which he completed in 2001, but his debt ballooned up to $71,000 after leaving his loans in forbearance for seven years.Davis Jr., 44, decided to get serious about his student loans around the time when he was making a big push to become completely debt-free. In total, he had over $170,000 in...

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How This Teacher Paid Off Half of Her $200K Student Loan Debt

More students are taking out over six-figures worth of student loans to get their degrees, but not all grads with that much debt end up with high-paying jobs after graduation. That’s been Diana’s struggle after graduating with a BA in Inclusive and Special Education in 2014 and an MSC of Literacy Education in 2015 from Syracuse University.When she walked across the stage at graduation, she had a total of $201,096 in loans. Diana, who asked to keep her last name confidential, was able to land a job prior to finishing her degree, but she struggled to repay her debt.“At...

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How One Law Grad Paid Off Over $191K in Student Debt

Your student debt might be keeping you up at night, but imagine if you had $191,948.91 in loans? That’s the amount Joshua Holt, 37, borrowed to get his law degree from Boston College. All of that debt became a huge source of stress for the corporate lawyer.“Who wouldn’t be stressed by a $200,000 anchor hanging around your neck,” he said. “It made me feel completely tied to my high-stress and high-income job. I have plenty of colleagues from law school who did not end up in big law firms and I know how hard it has been for them...

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Student Loans Are Creating a Mental Health Crisis

Most of us have heard about the student loan crisis and its shocking statistics. Millennials who take out student loans graduate with an average of over $28,000 in debt and many are putting off important life milestones like getting married, moving out of their parents’ home, buying a house, and even having kids because they are struggling with their student loan repayment.But perhaps the part of the student loan crisis that we hear about the least is the mental health crisis that it has created.Millennials Are More Stressed Than Other GenerationsA recent study by the American Psychological Association found...

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Why You Shouldn’t Put Off Your Life to Pay Off Your Student Loans

We often hear about how millennials are putting off important life milestones in order to repay their student loans. They’re living at home with their parents longer, waiting to get married, delaying having children, and putting off saving for retirement.For some millennials, this is because they’re barely able to make the monthly payments on their student loans because they’re underemployed. But many others are deciding to prioritize repaying their student debt in order to get debt free sooner and are putting any additional money that they have towards their student debt. It makes sense; after all, the average debt...

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