Author: Staff

How One Grad Repaid His Student Loan Debt by Selling Bugs

When it comes to repaying student loan debt, have you ever thought about selling bugs online?That’s what finally helped Jeff Neal, 33, repay the $25,000 in debt he owed for his English Literature degree from Temple University. While Neal loved the literature program, he struggled to find a well-paying job that would allow him to repay his student debt quickly after graduation. For the first eight years after he graduated, he made just the minimum payments on his loans and even had to file for forbearance a few times.Fast-forward to the moment Neal learned about crickets while trying to...

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How a Dentist and Lawyer Couple Paid Off $250K in Student Loan Debt

The average dentist graduates with $287,331 in student debt, according to the American Student Dental Association? While that amount is enough to make anyone sweat, you might be surprised to find that many dentists graduate with far more than that in loans.Danny Masters, 32, took on around $600,000 in student debt before he graduated with his dentistry degree. Add that to the $50,000 in student debt his wife, Amber Masters, accrued from law school, and that translated into the couple struggling with how to build a life together in the face of their mountain of debt.“Just having such a...

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This Grad Paid Off Over $60K in Student Loans After Graduating During the Recession

When the Great Recession hit, there were many news stories about millennials who graduated with significant amounts of student debt who then struggled with unemployment or underemployment.That was what Tim Stobierski, 28, faced when he graduated with a bachelor’s degree in English from the University of Connecticut in 2011, as the downturn was ending.Despite the fact that he accumulated over $65,000 in student debt to obtain his degree, he couldn’t find a job that required postsecondary education.“Finding a job with the little experience that I had was difficult, and I wound up needing to take a few jobs that...

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What Dropping Out of College Means for Financial Aid

While it's often seen as a mark of shame, backing out of college might be the only course of action in some circumstances. Everyone’s situation will be different, but dropping out of college is never a decision taken lightly.If you are considering dropping out of college, have you considered the impact it will have on financial aid? What about the impact on student loans? If you haven’t, take a moment, with a pen and pencil in hand, to work out the details and find out the long-term damage this decision will have on your financial success.What Happens If You...

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How to Handle Student Loans When You Lose Your Job

Student loans tend to come with long repayment terms. You can expect to see 25 years as a standard term for both private and federal loans.Over the course of two decades, a lot can happen, including a financial crisis, like losing your job for example. How can you handle the financial burden of student loans with job loss? Your initial reaction may be to panic, but there are a few options provided by federal student aid that may ease the financial burden and get you through the crisis.If you’ve recently lost your job, remember this is most likely a...

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