Student Loan Forgiveness or Ten Years to Life?
A Responsible Visual Guide to Your Federal Student Loan Repayment Options
by
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Congratulations! You have succeeded in the goal that you had established for yourself and you have graduated from college and now comprise the thirty-two percent of the American population that holds a Bachelor's degree or higher. Now it is time to dig deeper and to explore the multiple options presented you as you quickly approach the repayment stage on your student loan debt.
This book provides you a pathway to best understand the finance (in easy to understand
methodologies and analysis) behind the different repayment choices you may choose from that give you the best-fit for your amount of student loan debt, your current income and overall personal situation. Of course, these choices may also bring headwinds that may take you off-course from time-to-time from your original plans.
The following chapters will explore the monetary consequences of your choices, bad luck or good fortunes.
If you have lingering questions from your exit from school, then you will find that this book seeks to complete the many gaps that exist in the information gathering process that you face from your first payment to your last.
Only you can determine the option that's right for you.
It is time to learn how it all works - you deserve it!
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About the Book
Repaying college loans can be so complicated it’s been said that before graduating, students should be required to take a course on the subject.
But many students end up researching their options without much help, and answers on how to eliminate debt are hard to come by—something that can be tremendously frustrating.
Dane Spancake, a federal student loan counselor, helps you navigate the loan landscape with this guidebook. Learn how to:
- evaluate the positives and negatives of repayment schedule choices;
- weigh the pros and cons of income-driven repayment options versus alternative options; and
- determine if you qualify for loan forgiveness.
You’ll also learn how interest rates are determined, how annual payments are calculated, and the benefits of making consistent loan payments versus postponing repayment.
Discover what you’re up against when it comes to repaying college loans—and pick the strategy that makes the most sense for you with Student Loan Forgiveness or Ten Years to Life?
About the Author
DANE SPANCAKE is a federal student loan counselor and previously worked with Fidelity Investments, Wells Fargo, Morgan Stanley, and Merrill Lynch. He holds an MBA–Finance degree from the Boston University Questrom School of Business and a bachelor’s degree in economics from the University of Maryland in College Park, Maryland. He lives in York, Pennsylvania.