Author: Drew Cloud

Student Loan Relief Bill Introduced to Congress

If you could receive relief from your student loan payments, would you? Student loan debt is a difficult road to navigate down and many students find that it is not at all what they expected. Sometimes expectations are different because students either think that they are going to move right into their career when they graduate, thus making repayment easy or they think that the amount they borrowed is the exact amount they have to pay back. Unfortunately, both of these ways of thinking can lead to students taking out too much money and then not being able to...

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What the Fed’s Interest Rate Hike Means for Student Loan Borrowers

If you have recently heard that the federal government is increasing the interest rate on student loans, then you heard right. It is going to happen. While you may be panicking right now, especially if you are barely able to make your payments, take a step back and take a deep breath. We are going to discuss exactly what you can expect, exactly what is happening, and what you can do to make the transition easier on yourself. Will It Affect You? Believe it or not, this is the first rate increase the federal government has agreed on and...

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Minnesota’s New Student Loan Refinancing Program

If you have ever considered student loan refinancing and you live in Minnesota, you may be in luck. Recently, the state launched a new student loan refinancing program that is set to benefit students. Student loans often weigh heavily on students; this new program will help students pay back their student loans without causing them more stress. What Is Student Loan Refinancing? First and foremost, it is important to understand exactly what refinancing is before you decide whether or not it is good for you. Refinancing is an option open to those who meet the guidelines and the option...

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Jeb Bush’s Plan for the Student Loan Crisis

If you haven’t heard by now, the student loan crisis is beginning to spiral out of control, with a total student loan debt in the US of roughly 1.3 trillion dollars. That is an astronomical number and it is quite frankly, ludicrous. In fact, the average four-year degree student graduates with roughly $30,000 of total student loan debt. It is no surprise that many people wonder if the student loan programs are taken seriously or if the relief provided to student is enough. We always here about how one person wants every student to attend a public college for...

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SoFi Raises $1 Billion

Some particularly large sums of money were invested in the online lending space recently. Among the largest spenders were J.P. Morgan, who invested $325 million dollars to Avant, General Atlantic, and several other firms that deal in similar aspects. Lending Club LC submitted a report about their successful year to the U.S. Treasury as well. SoFi received their heftiest investment to date in their Series E round led by Soft Bank. $1 billion dollars was raised; a staggering sum that is the single largest investment in the history of financial technology space. With investments and rapid growth, SoFi is looking to...

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