Student loan refinance exchanges your existing college loans for a new loan with a lower interest rate. The idea is to repay your loan faster. You can refinance your student loan, either federal or private, through a private lender, such as a bank, credit union, or online lender. Refinancing your loans will combine them into … Read more
Interest rates are a key factor that impacts the cost of your student loans, but what do you know about variable interest on your loan? Federal student loans typically have fixed interest rates that remain the same over the life of your loan. But you may also take out private student loans with variable rates … Read more
Student Loan Interest Deduction Phase Out: You may be familiar with the student loan interest deduction if you have student loans. This tax deduction allows you to deduct up to $2,500 of the interest paid on your student loans yearly. However, income limits, known as phaseouts, can reduce or eliminate your ability to claim this … Read more
You’re finally graduating from college, ready to start your career and adult life. But along with the diploma comes a harsh reality – student loan debt, and lots of it. The average college graduate in 2023 has around $30,000 in student loans. That’s certainly not pocket change, and paying back those loans can feel like … Read more