What is Pay As You Earn? Pay As You Earn is a repayment plan for eligible Direct Loans that is designed to limit your required monthly payment to an amount that is affordable based on your income and family size.…
Debt Reduction
Book Review: Personal Bankruptcy Laws For Dummies — Introduction
by Rebecca Douglas •
I’m a graduating high school senior about to go off to college, which means it’s a period of big changes. Gone are the times when I could rely on my parents to generate income and pay expenses—if I want to…
Claim a Scholarship and Stay Out Of Student Loan Debt
by Mans Dee •
A family friend of mine recently confided in me that he was shocked to find out that his son is to repay student loans totalling up to $50,000 upon graduating. “I thought the amount was half of that,” he said…
A Brief History of Bankruptcy and Forgiveness of Debts
by Eric Carnegie •
The word “bankruptcy” traces its root back to Italian phrase “banca ratta”, which means “broken bench or table”. Customarily, in medieval times, when a Italian businessman failed to pay the debts, his creditors would break the table or bench from…
Pew Research Center: Young Adults After Recession: Fewer Homes,Fewer Cars, Less Debt
by Eric Carnegie •
After running up record debt-to-income ratios during the bubble economy of the 2000s, young adults shed substantially more debt than older adults did during the Great Recession and its immediate aftermath—mainly by virtue of owning fewer houses and cars, according…