After weeks of debate, President Biden signed the American Rescue Plan Act of 2021 into law on March 11, 2021. This act contains many provisions that directly impact young families, but this blog highlights the four provisions that I thought were most applicable: The stimulus checks/stimulus tax credit Increased child tax credit Increased child and[…]
How To Buy A Home When You Have Substantial Student Loan Debt
Buying a home is a big financial investment. It’s very likely the largest financial investment you have ever made. This is why I strongly recommend first challenging the belief that buying a home is always right for you. It’s critical that you fully weigh the pros and cons of making this financial investment and understand[…]
3 Major Ways Your Federal Students Loans Could Be Affected In The Next 4 Months
There is never a dull moment in the world of student loans. Many of you are hopefully enjoying a student loan payment-free summer thanks to the CARES Act which suspended federal student loan payments until September 30th, 2020. You may not be thinking about student loans until the payment suspension is lifted, but there are[…]
Why You Should Rethink Your Student Loans Right Now
As part of the CARES Act, all federal student loan payments are automatically suspended until September 30th. During this time period, no interest is accruing between March 13th, 2020 and September 30th, 2020. This covers the following loans: Direct federal loans FFEL federal loans Federal Perkins loans This is a significant relief to student loan[…]
5 Financial Planning Questions For Young Families To Ask Themselves
As a young family, your life is always on the run. Between work, dropping your kids off at daycare, attending soccer games, etc. it’s hard to carve out time for you, let alone time to properly manage your family’s financial life. With the addition of kids, you find your financial life all of a sudden[…]
The CARES Act – How Does This Affect You?
The CARES Act (they have to spend a decent amount of time making these law names sound good… right?) was officially signed into law on March 27th. There are a significant number of provisions within the CARES Act. If you’re bored, you can read the full bill here. This blog focuses on the following provisions[…]
Student Loan Interest Is Suspended… How Does This Affect You?
* Student loans payments have been suspended since this blog was written. Please reference this blog for the most up to date information about your student loans! President Trump announced shocking news that all interest on federal student loans will be waived until further notice. This was just one of many actions that the government[…]
3 Reasons Why Refinancing Your Student Loans May Not Be Right For You
*Please note that this article first appeared in Cashay. Student debt is the fastest rising debt in America, hitting $1.51 trillion in the third quarter of last year. To put that in perspective, the federal student loan balance in the U.S. exceeds the value of all goods and services produced by Spain, the 13th largest country[…]
How To Be The 1% That Receives Public Service Loan Forgiveness
Federal Student Aid recently released its updated federal student loan statistics through September 30th, 2019. Here are some of the highlights: The total outstanding federal student loan balance is now $1.51 trillion. To put that in perspective, the Gross Domestic Product (GDP) of Spain is $1.50 trillion. The federal student loan balance in this country[…]
How Marriage Affects Your Student Loans
Marriage is an incredibly exciting time in your life – you are embarking on a new journey with your spouse at your side. What used to be “mine” is now “ours” and for better or for worse – this includes student loans. Finances, but more specifically student loans, can be very difficult to talk about[…]