There are pros and cons to filing bankruptcy. Sometimes, it's the best option. However, in the best case scenario, it doesn't exactly wipe the slate clean. In other words, you don't necessarily start over at zero debt. There are some debts that can't be discharged.
What Does It Mean to Discharge Debt?
When you file for bankruptcy, a court discharges some of your debt. This means that you're not responsible for that debt anymore. The people you owed that money to can't ask you for it anymore. Read more [...]
Congratulations on making it out of high school and on to post-secondary education. While not every profession requires it, it's exciting, rewarding, and can open up a lot of possibilities. Post-secondary education seeks to engross you more in the field you want to study. You gain specialized skills, and in some academics tracks, get to put in into practice. Hopefully, you have filled out admissions applications and got into your top choice. Now it's time to get some funding and complete a master Read more [...]
There are many good reasons to go to college. However, college isn't right for everyone. And it might simply not be right for you at a given time in your life. You might find that it's worth dropping out of college to work. But how can you know if you're doing the right thing? Here are three big signs that it's worth dropping out of college to work instead:
1. Your Employer Will Eventually Pay For College
There are many ways to get paid to go to college. While people often look only at grants and Read more [...]
As a parent, you want to help your kids out, especially when they are starting college. After all, you want them to get their education, and cosigning for a student loan may seem like a great way to support them.
Generally, if you have good credit, choosing to cosign on a student loan can give your kids access to better interest rates. But, there are risks when you become a cosigner too, so you shouldn’t automatically jump in.
Since most American students end up going to college with Read more [...]
Let’s face facts; college is expensive. No parent wants to see their child saddled with thousands upon thousands of dollars in debt, or sacrificing decades of financial well-being to repay it. Student loans are a serious burden; one that I’m sure you’d do anything to help them avoid.
Since many parents of college-aged children have been contributing to a 401(k) for many years, it can be tempting to use some of those funds to help pay for their child’s education. If you are considering using Read more [...]
It is widely accepted that a good college education is an excellent starting point towards a good career. A graduate’s prospects for a well-paid job appear to be worth the effort to continue to study when some friends have already finished their education and got a job. College comes at a cost with the vast majority needing to take out a student loan to fund those years. Very few have rich parents who can simply pay all the bills. Those that already have student loans are likely to see little change Read more [...]
It’s that time of year … time to reflect on the year behind us and look forward to the year ahead. Setting goals and priorities has become an annual tradition here at Stapler Confessions. How did We do on Our 2015 Goals: Save for a down payment: SUCCESS! A combination of an up market and some serious belt-tightening allowed us to put down $50,000 on our home purchase. This is $10,000 more than we had at the beginning of 2015, and most importantly — it allowed us to avoid a rate increase Read more […]
Student Loan Hero is sponsoring this post. They asked me to check out their site and provide an honest review for my readers. What I found was a useful tool for student loan borrowers — particularly new graduates. My biggest financial mistake was not to take out student loans, but to ignore them for too long. With $200,000 in student loans, I thought that paying them off forever was a foregone conclusion. Then I read Dave Ramsey’s Total Money Makeover and met the frugal folks over on Mr. Read more […]
You may have noticed that I haven’t posted a Staples deal since last year. You may have noticed that I actually took on more debt instead of paying off student loans. You may have noticed that I haven’t snagged any free batteries in the entire time that this blog has been live. What?!?! Although I continue to love getting free stuff at Staples, my life has changed significantly over the past year. With an infant, a preschooler, and a new (to me) house, I haven’t had the time to stop at Read more […]
We stopped our aggressive debt payoff when I was laid off in October because we were trying to make ends meet. Some months, we did; and some months, we didn’t. One month, we even made an extra payment on a student loan. One month out of ten. :/ So, we fell off the wagon and I stopped paying attention to our debt repayment goals. Truth be told, I was obsessed with debt payoff when I was working steadily. Our income was predictable and I would project what our expenses and debt payoff numbers would Read more […]