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Make Your Summer Paycheck Do Three Jobs Before It Disappears
Summer Earnings Strategy

Make Your Summer Paycheck Do Three Jobs Before It Disappears

Summer money feels temporary. That’s why it vanishes. You work long shifts, pick up overtime, then September arrives and you have little to show...

5 months ago Read More
How to Use a Credit Card in College Without Digging Yourself Deeper Into Debt
Credit Cards in College

How to Use a Credit Card in College Without Digging Yourself Deeper Into Debt

Credit cards in college are not free money. They are a tool. Used right, they build credit and cover emergencies. Used wrong, they turn small...

5 months ago Read More
How to Win a Financial Aid Appeal for More Money
Financial Aid Appeals

How to Win a Financial Aid Appeal for More Money

You got your financial aid package, and it’s not enough. Maybe it’s a lot not enough. Maybe it’s so far off from what you need that you’re wondering...

5 months ago Read More
Why Tuition Keeps Rising Faster Than Your Paycheck
Causes of Rising Debt

Why Tuition Keeps Rising Faster Than Your Paycheck

If you graduated with student debt, you probably asked how it got so big. The answer isn’t that you were lazy or bad with money. The system changed...

5 months ago Read More
Student Loan Tax Rules That Actually Affect Your Wallet
Student Loan Tax Implications

Student Loan Tax Rules That Actually Affect Your Wallet

The student loan interest deduction is the simplest tax break most borrowers ignore. If you paid interest on a qualified student loan during the tax...

5 months ago Read More
The 48-Hour Rule: Cut Discretionary Spending Without Feeling Broke
Cutting Discretionary Spending

The 48-Hour Rule: Cut Discretionary Spending Without Feeling Broke

Discretionary spending is the money that vanishes before you notice. It is not rent, utilities, groceries, or your minimum student loan payment. It...

5 months ago Read More
When Refinancing Student Loans After Graduation Is Smart and When It Is a Trap
Refinancing Student Loans

When Refinancing Student Loans After Graduation Is Smart and When It Is a Trap

Refinancing student loans means taking out a new private loan to pay off one or more existing loans. The goal is usually a lower interest rate, a...

5 months ago Read More
Life Insurance When You Have Student Debt: What You Actually Need
Insurance Needs

Life Insurance When You Have Student Debt: What You Actually Need

If you owe $30,000 in student loans and you’re 26, life insurance probably isn’t your first thought. Rent, groceries, and minimum payments come...

5 months ago Read More
Why Your Student Loan Servicer Keeps Changing And How To Keep Up
Understanding Your Loan Servicer

Why Your Student Loan Servicer Keeps Changing And How To Keep Up

You finally get into a rhythm. Autopay is set, you know your login, you’ve bookmarked the payment page. Then a letter shows up saying your loans are...

5 months ago Read More
How to Recertify Your Income-Driven Repayment Plan After Graduation Without a Payment Shock
Income Driven Repayment

How to Recertify Your Income-Driven Repayment Plan After Graduation Without a Payment Shock

When you graduate, your student loan servicer might give you a payment that feels random. It isn’t. Under an income-driven repayment plan, your...

5 months ago Read More
The Income-Driven Repayment Myth That’s Costing You Money
Common Student Loan Myths

The Income-Driven Repayment Myth That’s Costing You Money

Income-driven repayment is not a last resort for people who can’t pay their bills. It’s a federal safety net, but it’s also a legitimate strategy for...

5 months ago Read More
Refinancing Student Loans After Graduation: When It Helps and When It Hurts
Refinancing Student Loans

Refinancing Student Loans After Graduation: When It Helps and When It Hurts

Refinancing student loans means replacing one or more existing loans with a new private loan, ideally at a lower interest rate. The old loans get...

5 months ago Read More
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FAQ

Frequently Asked Questions

It can — mortgage lenders factor your student loan payments into your debt-to-income ratio, which affects how much you can qualify to borrow, so a high loan payment relative to income can reduce your approved mortgage amount. Paying down other debt, increasing income, or switching to a lower income-driven payment before applying can sometimes help.

Start by identifying whether your loans are federal, private, or a mix, since that alone rules many options in or out, then compare your goals — lower monthly payments, less total interest, or faster payoff — against what each option actually does. A quick call with your servicer or a nonprofit credit counselor can help sort through the choices.

Some economists argue that easier access to federal loans has allowed schools to raise prices with less resistance, since students can borrow to cover the gap — sometimes called the Bennett hypothesis — though this remains a debated point among researchers rather than a settled conclusion. It's generally viewed as one contributing factor among several rather than the sole cause.

For federal loans, you fill out the Free Application for Federal Student Aid (FAFSA), your school uses that information to determine what aid you qualify for, and you then accept some or all of the federal loans offered in your financial aid package. Private loans are separate: you apply directly with a lender, who checks your (or a cosigner's) credit and income before approving a loan.

It depends on your loan's interest rate compared to what you'd reasonably expect to earn investing, plus how much you value the certainty of debt reduction versus market returns, which aren't guaranteed. Many people split the difference — paying a bit extra on debt while also contributing something to savings or retirement — rather than going all-in on one or the other.