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Covid-19 Stimulus Package: FFEL Loans

What is an FFEL Loan? An FFEL (Federal Family Education Loan program) loan is a federal student loan that was originated (funded) by an entity other than the US Education Department (USED). It could be a bank or a credit union (Sallie Mae, Chase, Wells Fargo, etc.), or even a guarantee agency . . .
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Covid-19 Stimulus Package: Perkins Loans

What is a Perkins Loan? A Perkins loan is money given by your school. It is considered a Federal student loan because the money was given to the school by the US Education Department (USED). The school lends the money, owns the loan, may hire a servicer to collect when the loan is in good standing . . .
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Covid-19 Stimulus Package: Direct Loans

What is a Direct Loan? A Direct Loan means the money was borrowed Directly from the US Education Department (USED). No middleman. The loan will always be held by USED. When in good standing, a servicer helps USED collect by sending bills and offer affordable payment plans and/or forbearance and . . .
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Covid-19 Stimulus Package Help Based on Student Loan Type

The stimulus package has lots of facets, including student loan protections. The question you might be asking is, “How will it help me, the student loan borrower?” The real question should be DOES it help you, the student loan borrower. Because guess what, the stimulus does not help all student loan . . .
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Covid-19 Update Video

If you'd like to read some specifics discussed in this video, please check out the blog for those with loans in good standing or the blog regarding defaulted loans. . . .
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Covid-19 and Student Loans – Update

Today, March 25, 2020, the US Education Department (USED) rolled out protections for defaulted loans. It's quite simple. No more collection activity on defaulted loans held by USED. As I said in my previous post on this subject, loans held by USED are Direct Loans and some defaulted FFEL loans that . . .
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Married Doesn’t Mean Joining Finances all the Time.

Congratulations! You said, "I do!" Oh, the things that follow "I do". Sometimes it's "I don't", or "I won't". Hopefully, it's not "I shouldn't have". I'm talking purely student loans here. Recently I was quoted in a story by Nerd Wallet, titled "Should your student loans and your spouse’s get . . .
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Don’t turn your Federal Loans Private!

Today's video talks about the pros and cons of refinancing a Federal Student Loan with a Private lender. https://youtu.be/MNWXgZcushk . . .
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Federal Tax Refund Intercepts

Today I'm talking about Federal tax refund intercepts. If you're in default, you may not receive your Federal tax refund. Find out why and how to avoid it. . . .
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Student Loans and Credit Reports

With all the recent press about credit reporting company Equifax's major data breach, now's a good time to discuss the intersection of student loans and credit reports. It's not uncommon to have questions about how student loans affect credit, so lets sort the myths from the facts. What Shows on a . . .
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