Stacks of coins with graduation cap on top and a blue book in background

Article Summary: Pay as You Earn is a type of income-driven repayment plan designed to help borrowers with federal student loans who are struggling to make payments. It also qualifies you to receive loan forgiveness after 20 years if there is a remaining balance. If you work in certain sectors of the public service, your […]

a calculator, paper clip, pen, and paper for financial planning, budgeting

What Is Discretionary Income?

Article Summary: Discretionary income is money left over after you pay taxes and necessary expenses. Necessary expenses include mortgage payments, rent, utilities, and more. Discretionary income is used on nonessential items and determines how much your monthly student loan payments will cost. It’s finally payday. You’ve received your paycheck, and now it’s time to pay […]

The United States Capitol Building in Washington DC

Article Summary: Forgivable loans are a type of loan where borrowers don’t have to pay back some or all of the balance owed, provided they meet certain conditions. Usually, these loans are related to the federal government, but they are also offered by state-run programs and private companies (usually as a recruiting tool). In most […]

Hands holding a calculator while writing in a notebook behind stacks of coins

Article Summary: Your loan balance may increase if you accrue interest and late fees. While this is most commonly seen in student loans, different loan types may increase for other reasons. Mortgages may increase due to closing costs and property tax changes, and auto loan balances may rise when you trade in a car with […]

RI personal finance legislation

Some good news came out of Providence last week. Last Wednesday, Governor Dan McKee signed into law legislation (2021-H 5491, 2021-S 0349) that will require statewide standards in consumer education for public high schools. The legislation directs the Council on Elementary and Secondary Education and the Rhode Island Department of Education to develop instruction standards […]

millennial depression why are millennials depressed

Depression is one of the most harmful and pervasive conditions among Americans. It is on the rise among all age groups, but particularly among teenagers and young adults. This is leading many to ask, why are Millennials so depressed? The premise of that question is that Millennials are more likely to be depressed than other […]

Millennials higher incomes

If you are a demographic economics nerd – and why else would you be reading an article on average millennial income? – you have probably read headlines like these. “Young adult households are now earning more than ever before.” “Are Millenials on track to become the richest generation?” “Millenials may be the wealthiest generation.” But […]

Trying to build up your savings? Lower monthly payments may be the key. You can save big by paying less every month on expenses like your mortgage, car and home insurance, credit cards, and student loans. When you lower your monthly payments on your credit accounts and loans, you save money every month. These little […]

debt consolidation excessive debt

Student loan default is becoming increasingly common, particularly among people with smaller student debt amounts. Did you take out a private student loan with the best of intentions, only to find yourself in over your head? You’re not alone. More than one million people every year struggle to keep up with their loan payments and […]

HOW TO REFINANCE A STUDENT LOAN WITH A COSIGNER

Refinancing your student loans with a cosigner can help you lower your monthly payments and reduce the overall cost of your loan. But it’s not always a good idea. Read on to find out how to refinance student loans with a cosigner, and how to decide if you should. What is refinancing? Refinancing is the […]

SuperMoney student loan

You can’t put a price on education, which is a good thing because the sticker shock would put us off it altogether. This comprehensive student loan industry study investigates multiple data sources to reveal the key trends and statistics that define how we finance higher education. Student loans are the fastest-growing source of debt for […]

deferment and forbearance

Federal student loans offer deferment and forbearance options to help borrowers during times of financial hardship. If you qualify, you can temporarily reduce or pause your loan payments. But what about private loans? Can you get a deferment or forbearance on private student loans? Do they offer similar repayment protections? Here’s what you need to know. 8 lenders that offer deferment […]

Student Loan Refinancing offer engine

Building on the technology that powers SuperMoney’s leading marketplaces for personal loans, auto loans, auto loan refinancing, and business loans, we are proud to announce that SuperMoney has launched a modern marketplace that will help students make smarter decisions when shopping for student loan refinancing. The SuperMoney Student Loan Refinance Marketplace allows you to: Submit […]

variable vs fixed ; fixed vs variable student loan rates

Student loans can help you get the education you need to achieve your career goals. Without them, many Americans wouldn’t be able to pursue their dreams. For instance, 42% of those who attended college, acquired some debt from their education. However, education debt can be a big burden to bear when it comes time to pay […]