Refinance Student Loans Help

Refinance Student Loans Help

BYE Student Loan Debt: Learn How to Empower Yourself by Eliminating Your Student Loans

Question: Is it smart to refinance your student loans?
Answer: You should consider refinancing student loans if you find a lower interest rate and you want to merge some or all of your student loan payments into one. While refinancing is a good idea in many cases, it’s not best for everyone, especially those who need to take advantage of federal student loan protections.

Now, nearly 70% of college graduates exited school with student debt – equivalent to 43 million student loan borrowers. Together, these students carry over $1.4 trillion dollars in loans, which continues to grow at a rate of about $3,000 per second! The average 2017 graduate will leave school with over $37,000 in debt and an average payment of over $350 a month.

BYE Student Loan Debt was created to tackle this epidemic. He has accumulated nearly $150,000 in student loan debt through a combined several years of secondary education. By sticking to the principles outlined in this book, they eliminated this debt in just 5 years! This provided the inspiration to share their story so that others could follow the same steps they used to rapidly eliminate their debt. This interactive online book is linked to online calculator tools that when paired with the simple process outlined in the book, allow for a customized repayment solution.

If you or someone you know is saddled or soon to be saddled with this burden, BYE Student Loan Debt is the book for you. For those that are already in student loan debt, this book will show you the fundamentals of how to understand, manage and eventually eradicate your debt. For those yet to take out loans, the book will highlight the principles required to minimize your debt burden and prevent a lifetime of student loan payments. Within these chapters, you will learn to:

1. Organize your loan situation and set realistic goals
2. Create a budget and make a plan
3. Bargain hunt for favorable loan consolidation terms
4. Execute a loan plan by prioritizing the most costly loans first
5. Employ programs to alter, delay, or have loans completely forgiven
6. Save and invest for your future
7. Prevent student loan debt from the beginning of your education
8. Customize a loan repayment plan with interactive online calculators

Bye Student Loan Debt lays out a clear and easy method for how to pay back student loans that I have not seen anywhere else. If you don’t fully understand your student loans or already have a purposeful strategy for repayment, then reading this book will likely save you thousands of dollars and put you in a better lifelong financial position.

This guide goes further than just explaining the student loans and tackling repayment strategies, and even talks about the difference between retirement accounts such as a 401k, IRA, Roth IRA, etc. In that sense, it’s almost like a beginners guide to personal finance which would benefit everyone. This guide is concise and easy to read. I would recommend this book to anyone who has student loans, or any parents of kids with student loans. It is an excellent information.

It is a methodical, concise, and accessible resource in a sea of unqualified advice and opinions on the subject. How to deal with student debt properly is not immediately obvious and difficult to execute – this book acts as a play-by-play for success not only in relieving debt, but in how the process fits in your own larger financial health. This guidek should be a go-to for anyone who is confused or overwhelmed by student debt.

Refinance Student Loans Details

Refinance Student Loans

Refinance Student Loans External Link:

Student Loan Consolidation

Student Loan Consolidation

Dealing with Student Loans: A Comprehensive Guide

Has to be one of the best books on student loans out there. Thoroughly researched and detailed w lots of real world examples. Right now, no matter what you’ve read online, there are no secrets or tricks to handling your student loans, and there are no shortcuts to doing your homework. The proven plans usually aren’t very sexy, and everyone’s situation is different.

The details about student loan consolidation matter, and they matter a lot.

This is the comprehensive guide for dealing with student loans, written to concisely cover a complex topic and give you the tools and background you need to handle the big investment you’ve made in yourself.

Topics include:
– Borrowing less and minimizing interest accrual during school
– How Federal Loans Work & Federal Repayment Options
– Income-driven repayment (IBR, PAYE, REPAYE, and ICR)
– Federal Direct Consolidation
– Forbearance & Deferment
– Public Service Loan Forgiveness
– Maximizing PSLF
– Long-Term Loan Forgiveness & Loan Repayment Programs
– Private Refinancing
– Taxes & Retirement

Read it during you interview months as it’s actually a quick read and can be finished in a day or two. Before reading this book, I had the basics down as I had done a bit of reading, but this book would have been a much simpler and quicker solution to all the work I had done. It also pointed out some nitty gritty details I had overlooked within each repayment plan. It defines every term you need to know and runs through all the repayment plans. It also touches on other financial concepts doctors should be aware of (financial advice, taxes, retirement, insurance, etc), but this is not the book for that – for that I would read The White Coat Investor as the first chapter of this book seems to come straight from that book.

The only downsides to this book is it often gives an example of a repayment strategy, shows you the numbers, and then says to run the numbers for your own situation, but never shows or tell you how to do this. An appendix with how these calculations are done would make this book just that much better as they are not always straight forward and the calculators recommended at the end of the book and others out there only look at a snapshot in time and do not account for any increases in salary. I highly recommend anyone taking their student loans seriously with any possible complexity such as PSLF, marriage, children, ect. build their own excel calculator once they understand how the numbers are calculated and run it yourself to see how you can maximize potential savings.

This book does an amazing job of understanding and communicating the actual details of student loans. I especially appreciated the excerpts he used from government resources and regulations. This is a must read for entering and exiting students.

Student Loan Consolidation Details

Student Loan Consolidation

Student Loan Consolidation External Links:

New Loan Consolidation Searches

Option that will best fit your specific needs

By reducing your student loan payments into just one monthly expense, you also be much better able to budget for other expenses as well as rent or mortgage, car payments and other new debt that you may be taking on after college graduation. This can help to give you some breathing room for paying your other debts.

There are many choices available today in terms of student borrowing, making it difficult to know which way to turn for the option that will best fit your specific needs. That is why having an expert source available can help a great deal in narrowing down the details that will move you towards your ideal private student debt consolidation.

Consolidation can greatly simplify loan repayment

Direct loan consolidation allows you to combine multiple federal student loans into one loan; but it also can result in loss of some benefits. Once your loans are combined into a direct consolidation loan, they cannot be removed. The loans that were consolidated are paid off and no longer exist.

Carefully consider whether direct loan consolidation is the best option for you. Loan consolidation can greatly simplify loan repayment by centralizing your loans to one bill and can lower monthly payments by giving you up to thirty years to repay your loans. You might also have access to alternative repayment plans you would not have had before, and you will be able to switch your variable interest rate of direct loans to a fixed interest rate.

Making smaller payments over a longer time

Federal student loan consolidation allows you to combine one or more existing student loans into one single consolidation loan with a new repayment schedule. You will have lower monthly payments, but you will pay much higher interest over the life of the loan because you will be making smaller payments over a longer time.

When determining benefits that are available, you must consider each type of loan program, and the principal and interest components individually. The Department of Education pays the interest during the period of deferment for subsidized Stafford Loans and subsidized Federal Consolidation Loans. The Department of Education does not charge interest during the period of deferment for Perkins Loans and subsidized Federal Direct Loans.