I recently saw a Facebook post that seriously got me thinking about student loan debt. This is not to say I have not done so before - I most certainly have. However, this particular post made me think about things from a new angle.I wasn't able to find the original post, but here's the gist of it. The post said:It's easier for an 18-year-old to take on $200,000 in student loans than it is for…
It's an interesting question. In some ways it's a very simple one; in other ways, not so much. With a certain presidential candidate promising free college as part of his campaign and growing national student loan debt, I feel it's a good question to ask. So, is free college tuition possible in the US? Is Free College Tuition Possible Anywhere? It's not just possible - it's already a reality. Yes, many countries offer it today.…
There are many different types of federal student aid (FSA). Although the amount of information this creates can seem overwhelming, it doesn't have to be. The easiest way to understand all of the options available is to approach it from the right angle. You probably won't be eligible for every type of federal student aid. Many of them target specific groups. More importantly, you cannot receive more student aid than your cost to attend school.…
It's an interesting question: are student loans an economic wrecking ball? More and more, I have heard mention of how Millennials aren't buying homes and how that is ruining the economy. But why aren't Millennials buying homes? I think there are many reasons. After all, we're a population of 70 million+, so we couldn't possibly hone in on just one explanation. Yes, student debt is on the rise. But how much does that affect the…
Hey all! Welcome back to the Student Loan Series. This is the continuation of a post series that started with Saving Joyfully. The purpose of this series is to gain some insight from some friends who also had large amounts of student debt. I've given you my tips for paying off student loans, but I'm sure I haven't covered everything. Next up in the series is Diana from Diana on a Dime. Diana is also…
FedLoan handles federal loan servicing for millions of borrowers. This means that FedLoan does not actually lend the money; instead, they handle everything thereafter. FedLoan collects payments, issues statements, works with borrowers on repayment plans, and so on. FedLoan is also related to AES in another key way: they have the same parent company, PHEAA. What is Federal Loan Servicing? The Department of Education disperses funds which are in turn managed by a student loan servicer.…