The More You Know

                                          The More You know

We tend to think we know enough to get us by and manage our student loans and repayment. The truth of the matter is we don't know enough, with all these laws and bills and so much reconstruction is going on about student loans and the government, it's really all to much to try and figure out yourself. It's no wonder that 43 million Americans who carry $1.3 trillion in student debt just want to just cross that bridge when they get to it, or just continue to carry that debt. That's a pretty high number.....and not to mention how these numbers reflect the age groups of this debt and setting up teenagers to get ready to be swallowed up in debt.......even so the Education Secretary John B. King Jr said himself  "We know costs are rising too fast and too many Americans are struggling to pay back their loans" end quote.....now I hear about a thing where they are expanding income-driven plans that require little to no money from people in dire straights. But let's face it the statistics even state that seventy percent (70%)of the people in that program go into default as well. Again there are so many different things that the government have in play for us to pay back the loans, that the confusion of the different programs could be the main problem why so may college grads are not doing the right thing. Does the blame stop there? no it doesn't let's look at the middle man, the minions who are responsible for making sure your student loan payments are applied. If applied to  your account on time that late payment fee accumulates. So before you go thinking that your doing something wrong......the minions are not always right on time with applying those payments. Even with the promises of making sure that those who do that will be held accountable may sound good.....it may never happen the correct way. Now we also have to look at the economy.....with how things are going today, even if you did get your bacholors, masters you may not find a job in your major, that will pay you enough to allow you to repay your loans. That will also put you in default. There is good news though, you can improve your chances on being successful to repayments & proper management of your student loans. There are some really good companies that can help you, yet there is another company Degrees Of Success that can help you & be successful with your student loan management, repayments and other options available, that you just may not have known about. Degrees of Success, you can get the right information to live by. To get more info about Degrees Of Success you can follow them on fb at Degrees of Success and on Twitter @DegreesofSuccess because "The More You Know" the better off you are.



Daisy Lane
Published Blogger

Learn About Forgiveness.....On A Student Loan

Like most people, when starting college you really have no idea which loans are the better ones to apply for. Unlike grants you do have to pay those loans back, and after you graduate from college.......at least six (6) months later you will need to start your repayments on those said loans. Rather you get a job right away in your field of study or you get take a little bit longer to find a job in your field of study, payment is still going to be due. There is however help for those graduates who have loans and can't pay them back when scheduled, and other things to do to get student loans to disappear. Now some people may thinking, "what if I never find a job in my field of study"? Well here might be a little something to help you with your repayment process. There is something called a DEFERRED LOAN: What a deferred loan can do is provide a student or graduated borrower with a little breathing room before payments begin. There is also LOAN FORBEARANCE: allows you to temporarily postpone making your federal student loan payments or to temporarily reduce the amount you pay. Another one I would like to tell you about is ECONOMIC HARDSHIP: The economic hardship deferment is granted one year at a time for a maximum of three years. The first three qualification categories are “automatic” as long as you can provide supporting documentation. Last but not least we have  LOAN FORGIVNESS: The cancellation of all or some portion of your remaining federal student loan balance. If your loan is forgiven, you are no longer responsible for repaying that remaining portion of the loan. With anyone of these programs available to all graduates, repayment of your student loans should be a little less of a hassle and give you some light at the end of that loan tunnel. Please take time out and do a little more research of your own to get the full understanding of student loans and options for repayment. Always ask about interest rates that is also important. To learn more about the different types other ways and terms of repaying loans you can check out a couple of websites such as a couple of these : https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service
and you can check this one out too: http://www.studentdebtrelief.us/forgiveness/obama-student-loan-forgiveness/
Know there is help, so on ahead graduate go and get it!

Daisy Lane
Blogger