How To Pay Your Student Loans

Obama student loan relief 4. Have a balanced diet. Brady recommends paying off the debt as soon as possible, but not using a Atkins debt payoff system. Have some carbs on your plate, which is like investing in your 401(k). Have some protein, which is paying off your debt. And then have some fat, which tastes really good, and have a little fun, Brady said.
Source: http://www.deseretnews.com/article/865590273/Experts-offer-advice-about-paying-off-those-dreaded-student-loans.html?pg=all

By paying more than the minimum on your student loans every month or whenever you can, you can pay off your loans sooner and also lower the total amount of interest you pay over the life of the loan. Make Loan Payments When Due. Making your loan payments on time can help you build and maintain a good credit rating — and avoid the extra expense of late fees. When you incur a $25 late fee on a payment of $125, that is a 20 percent interest cost on that one payment and over the course of a few years, this really adds up. Save time and money by enrolling in automatic bill payment. Borrowers who sign up for automatic debit may qualify for a .25 percentage point interest rate reduction while enrolled to make scheduled monthly payments.
Source: http://www.cbsnews.com/8301-505144_162-57611290/how-to-pay-your-student-loans/

Perkins loans are also excluded. Service members can get around this loophole by consolidating these loans into a new direct loan. Some borrowers miss out on this benefit because they put their loans on a military deferral, which halts payments while they are on active duty. Instead of stopping payments, troops should explore options to lower the amount due each month, such as income-based, income-contingent and pay-as-you-earn repayment plans. Each option bases monthly payments on annual earnings and family size . The reduced amount still counts as a full payment for public service loan forgiveness, even if the total amount due each month is zero dollars.
Source: http://www.huffingtonpost.com/2013/11/11/student-loan-relief-service-members_n_4254872.html

“This provision takes a bad situation and makes it worseforcing people in financial trouble to divide their meager resources so that they can’t stay current on their student loans,” said Sen. Elizabeth Warren (D., Mass.), a consumer-protection advocate. “This is fundamentally the wrong approach.” It isn’t clear how many of the roughly 1.2 million Chapter 13 bankruptcy cases filed overall by individuals in 2010, 2011 and 2012 included student loans. But lawyers across the country say their bankruptcy clients have ever-larger education debts. Some bankruptcy experts say the problem shows the U.S. Bankruptcy Code is ill-equipped to handle student-loan debt, which, at about $1 trillion, has outgrown credit cards as the largest source of consumer debt, excluding mortgages.
Source: http://online.wsj.com/news/articles/SB10001424052702303983904579095262035350296

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