Tag Archives: College

Five Ways to Pay Off Private Student Loans Faster

Student loans are a source of worry and frustration for many borrowers. However, it can be a mistake to pay off certain types of student loans too quickly. Federal student loans are generally a “good type of debt.” We encourage you to read our recent blog on why this is the case. Private student loans are another story. Unlike federal higher education debt, private student loans often lack helpful income-driven repayment and forgiveness programs. Private student loans may have higher interest rates and it is easier to default. You should pay off private student loans as soon as possible. There are multiple ways to accomplish this goal. Five common ways to quickly pay off private student loan debt include: Using federal income-driven programs to save money: If you also have federal student loans, then you may qualify for income-driven repayment programs that can lower your monthly payments. Money saved by…
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The Sader Law Firm Writes Article for Primerus Paradigm Magazine

Kansas City bankruptcy attorneys Neil S. Sader and Michael J. Wambolt have written an article for the Spring 2017 edition of Primerus Paradigm magazine. The article, titled “For Federal Student Loan Debt, What You Owe Is Less Important Than What You Know”, discusses helpful debt relief options available to borrowers with federal student loans. The premise of this article is that if you are struggling with student loans, knowledge is power. It is important to know which options are available for lowering payments or seeking loan forgiveness. Neil Sader and Michael Wambolt discuss several helpful options for borrowers who are struggling to pay back federal student loans. These options include: Income-driven repayment plans: Borrowers with federal student loans have one or more options to enroll into income-driven repayment programs. These programs limit monthly payments to a percentage of discretionary income. Loan forgiveness: Some borrowers may be eligible for loan forgiveness…
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