Student Loans

How to Stop Being “Too Scared” to Look at Your Student Loan Debt

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Financial Tip of the Day

Student loans are a BIG issue for many of us (including yours truly) and can feel like a big boulder that we’re forever dragging around. Am I right? Don’t get me wrong. I’m the first to acknowledge that we’ve acquired an infinitely invaluable education as a result of these student loans. However, it doesn’t take much to improperly manage these loans. This can happen because we’re too scared to look at the amount we owe. Or we already KNOW that we’ve fallen behind with repayment. And this can wreak havoc on our finances.

To make sure that these loans impact our futures in only POSITIVE ways, proper repayment is critical. Whether private or federal, don’t neglect to pay your loans. That would be one of the worst financial mistakes that you could make. But even if you HAVE fallen behind, it’s still not too late to get back on track. This excellent piece explains how to successfully manage your loans and the resources you need to use in each situation: How to Manage Student Loan Debt.

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Excelsior Scholarship Spring 2018 Deadline

Financial Tip of the Day

If you live in NY and have been mulling returning to school at CUNY or SUNY to earn/complete your undergrad degree, you may want to check out the Excelsior Scholarship. See if you’re eligible for free tuition. The deadline for the Spring 2018 term is December 4, 2017. As expensive as college is, this may just be the financial relief that you need to avoid graduating with tons of student load debt. Check it out here: https://www.hesc.ny.gov/excelsior/

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More Tips On Managing Student Loan Debt

Financial Tip of the Day:

To achieve maximum earning potential today many of us come to realize that it’s necessary to get our degrees. After many years of successfully being in the workforce, I too came to this same conclusion several years ago. Along with the pursuit of a degree also comes the need to take out student loans (for so many of us). The undeniable jubilance of finally completing a degree is followed by a hefty repayment bill about 6 months later. And depending upon how much was borrowed, this debt can feel like a ton of weight on our shoulders. I’ve witnessed the tremendous stress and strain that clients experience regarding repayment. But no matter how stressful it feels, the one thing NOT to do is to bury your head in the sand. There are many options available. If your loan paperwork looks like a foreign language, get some help to understand it. This piece also offers some useful tips on how to manage student loans: 6 Unconventional Ways to Manage and Repay Student Loans.