At a Glance: Proving undue hardship for student loans is a challenging process. You must meet the strict criteria of the Brunner Test, demonstrating an inability to maintain a minimal standard of living, persistent financial difficulties, and good faith efforts to repay loans. Alternatives to bankru…
At a Glance: Student loans offer an opportunity to build credit and achieve financial goals. Making on-time payments, exploring affordable options, and considering refinancing can establish a strong credit history. However, careful management is essential. Communicate with loan servicers, research r…
At a Glance: Paying rent can positively impact credit scores, but it’s essential to report payments to credit bureaus or use a rent reporting service. Self-reporting and rent reporting services help build credit. Consider costs, reporting frequency, data privacy, and customer support when choo…
At a Glance: Discretionary income and student loans have a significant impact on each other. Understanding their connection is crucial for managing loans. Discretionary income, the money left after essential expenses, can be used to speed up loan repayment and explore refinancing options. It also al…
At a Glance: Understanding the tax implications of financial aid and student loans is crucial. While grants and scholarships are usually tax-free, work-study earnings and part-time job income are taxable. Student loans are generally not taxable, but loan forgiveness programs may have tax implication…
At a Glance: Exploring payment options for bariatric surgery without insurance includes secured medical loans, hospital payment plans, 401(k) loans, CareCredit, and Health Savings Accounts (HSAs). These diverse methods provide feasible ways to finance this transformative health journey. Starting on …
At a Glance: APR (Annual Percentage Rate) and APY (Annual Percentage Yield) are crucial for financial decisions. APR indicates borrowing costs, including interest and fees, while APY includes compounding interest, showing actual earnings or loan costs. Understanding these differences is essential fo…
At a Glance: Across the U.S., various states offer distinct loan forgiveness programs for pharmacists. Alaska, Arizona, California, and Colorado provide up to $90,000 in forgiveness for service in underserved areas. Programs in states like Idaho, Iowa, and Kentucky offer significant relief, while Mi…
At a Glance: In Arizona, the average student loan debt is around $34,712, with significant variations across counties. Maricopa County, encompassing Phoenix, reports higher debts averaging $38,500 due to its dense concentration of higher education institutions. In contrast, Pinal County has a lower …
At a Glance: In Louisiana, the average student loan debt hovers around $33,823, slightly above the national average. This varies across cities, with New Orleans and Baton Rouge notably impacted. The state offers various loan repayment programs, including federal income-driven plans and forgiveness o…