James and Kathy are a young married couple with two small children. They make a good income and live a good life. They have a good amount of cash in their bank accounts and pay…
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9 Biggest Student Loan Misconceptions
They say knowledge is power — and that seems to be especially true with student loans. As complex as they have become, it’s no surprise that there is a lot of misinformation floating around out…
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Why Drive Old Cars?
I drive a 2003 Toyota Avalon. It’s got about 115k miles on it. Runs great. Definitely not the coolest car. But it’s extremely inexpensive and serves its purpose well. The other day, my wife told…
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Should I Drop Out of PSLF?
Are you thinking about bailing out on PSLF? Before you sign on the dotted line, do yourself a favor and read this. So I’m talking with John. John has a big student loan balance… somewhere…
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When Good Debt Goes Bad
So what is “good debt”? It’s a general term for a debt used to finance something that expected to increase in value. Maybe you take out a mortgage to buy a home you expect to appreciate….
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How to Change From IBR to RePAYE
Question: I’m planning to switch from the Income-Based Repayment “IBR” student loan repayment plan to Revised Pay As You Earn – “RePAYE”. How do I accomplish this without having any hangups? Well – this process varies…
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The University of Kentucky Health Savings Account Option Now Available
Starting in 2019, the University of Kentucky will begin offering the UK Saver plan (click to compare UK health insurance plans). This is a big deal because it finally gives University of Kentucky employees access to…
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How Do My Pre-Tax Retirement Plan Contributions Affect PSLF?
Most people saving for retirement have a choice between paying taxes now or later. Pre-tax accounts avoid taxation now, but you end up paying tax on those dollars when the money comes out. Post-tax –…
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Selecting The Best Repayment Plan During Residency
Did you know there are 8 different federal loan repayment plans? The differences are confusing, yet very impactful. Given the stakes, it’s important to understand how your federal student loan repayment options work so you can…
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5 Money Tips To Kick Start 2019
Happy New Year! This fresh start is a great time to set your goals for the upcoming year. Here are some ideas for resolutions, of course related to your finances, to get you started off on…
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How To Qualify For Public Service Loan Forgiveness
In light of the 99% denial rate for the initial wave of PSLF applicants, I thought it would be helpful to confirm exactly what is required to qualify: Qualified Loans You must have Direct non-parent…
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Public Service Loan Forgiveness Application Denial Rate Over 99%
As of 6-30-2018, there were 28,913 processed PSLF applications. Of those, only 289 (or just under 1%) had been approved. Pretty lousy, right?