If you have questions about repaying a student loan, Mark Kantrowitz, the financial aid wizard over at Fastweb, the scholarship search engine, has written a very handy guide on the topic.
His student-loan repayment cheat sheet is hot off the press and full of invaluable information. Here are some of the topics that Repaying Student Loans Quick Reference Guide covers:
- Student loan consolidation trade-offs.
- Federal student loan repayment plans.
- Public service loan forgiveness.
- Income-based repayment program.
- Defaulting on a student loan.
- Budget tips for graduates overwhelmed with debt.
- Canceling student loans.
If you’ve got students loans, it’s worth taking a look.
In other news……
The Delta Cost Project on Postsecondary Costs, Productivity and Accountability has just unveiled a new online tool that can help consumers evaluate just where 2,300 individual colleges are spending their money, including in the classroom. I’m excited about this new tool, which is called Trends in College Spending Online. I’ll be writing about it at a later date after I’ve had time to play with it.
The Delta Project also released its latest report on college spending and it’s results are discouraging: Tuition rates have risen far greater than inflation, but “no discernible payoff in quality, opportunity, or results.”
Lynn O’Shaughnessy is the author of The College Solution and an eBook, Shrinking the Cost of College: 152 Ways to Cut the Price of a Bachelor’s Degree.
I have come up with a creative way of financing my $45,000 in college debt. I have started a site called http://www.quarterforcollege.com where I am asking visitors to donate 1 QUARTER to help fund my college debt. My hope is that by asking thousands of people to donate a small amount that together we can go a long way. If you are curious check it out.