Debt and Loans

What Happens if You Default on Student Loans

In addition to some people opting to walk away from their mortgages, the temptation to default on student loans is growing. Unfortunately, defaulting on student loans can have even worse consequences than defaulting on a mortgage. So, let’s go over what will happen if you default, and options for avoiding default. What Qualifies as Default? The government …

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Save Money on Student Loans without Consolidating

If you haven’t already consolidated your federal student loans, then you’re currently out of luck. Due to Congressional budget cuts, most student loan issuers have decided it’s not economical to consolidate federal loans. You can consolidate private loans, but it’s more difficult. Nevertheless, you can find ways to save money on student debt. Here are …

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The LIBOR and Fed Rate Fall: What that Means for You

Yesterday, as you probably heard, the Federal Reserve Bank cut the key overnight interest rate by 75 basis points. The LIBOR (London Interbank Offered Rate) has also been dropping due to credit concerns. So, you may be wondering what this means for you. The answer is that it depends on how your finances are arranged. Credit cards: …

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