Are 0% Interest Student Loans Better Than $10K Cancellation?

Cancellation is the most popular proposal to address student loan debt, but it isn’t the only one out there. With the interest-free student loan payment pause in its third year, some wonder if 0% interest on student loans is a better answer. “I think this COVID pause has really illustrated — hopefully for policymakers but … Continued

With Student Loan Payments Set to Return, Here’s How to Get Help

For 42.9 million student loan borrowers, it’s been 18 months without a payment. That ends in October — ready or not. The interest-free federal student loan payment pause, known as a forbearance, was extended three times after it initially went into effect in March 2020 as a way to help reduce the financial blow many … Continued

What Would It Take to Solve the Student Debt Crisis?

The possibility of federal student loan forgiveness grabs all the headlines. But experts say no single policy — not even wiping the slate clean for millions of borrowers — solves the root causes of the nation’s $1.74 trillion student loan debt crisis. That debt has been fueled by decades of wages not keeping up with the … Continued

The Pros and Cons of Debt Consolidation

If you have multiple streams of debt, like high-interest credit cards, medical bills or personal loans, debt consolidation can combine them into one fixed monthly payment. Getting a debt consolidation loan or using a balance transfer credit card can make sense if it lowers your annual percentage rate. But refinancing debt has pros and cons … Continued

How to Prioritize Debt Payments in the Pandemic

A singular crisis has led to extraordinary relief options for borrowers. Interest and payments have been paused on federal student loans. Homeowners can request nearly a year of mortgage forbearance. Credit card issuers and other lenders dramatically expanded hardship programs. Still, many Americans say they took on more debt last year because of the pandemic, … Continued

Finances Unscathed by Pandemic? Seize the Moment and Tackle Debt

After close to a year of living with the pandemic, the effect on people’s finances has varied widely. If you’re in the fortunate position of still having a steady income, you can plan for what lies ahead in 2021. A good first step is dealing with debt. Maybe you leaned on credit cards to get … Continued

Get Ahead of Holiday Debt With a Payoff Plan

In a holiday season that many of us will spend apart from loved ones, gift-giving might feel even more important than usual. After all, if you can’t travel to see family, at least you can see them unwrap gifts over a video call, right? And just as many families will use a video service for … Continued

Read This Before You Refinance Federal Student Loans

Refinancing student loans at a lower interest rate can put more money in your pocket. With federal student loan bills restarting soon and refi rates near historic lows, it might seem like the perfect time to take this step. But even if you qualify for refinancing, it won’t always make sense if you have federal student … Continued

Federal Borrowers Get to Skip Another Student Loan Payment

Millions of student loan borrowers who haven’t had to make a payment since the pandemic shut down the nation last winter just got an additional reprieve. The payment pause, known as a forbearance, began March 13 as part of the original coronavirus relief package and has now been extended twice by the Trump administration, most recently … Continued

How to Handle College Loan Debt as an Unemployed Recent Grad

Entry-level jobs are scarce for recent college graduates, which leaves the Class of 2020 in a precarious position as their student loan debt comes due. Taylor Cabrera has been job-hunting for months since graduating from the University of Mississippi last spring with dual bachelor’s degrees in biology and physics, and has moved in with family … Continued