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How to Relieve Yourself from Student Loans




Getting rid of student loans, although possible, can be a rocky ride. Luckily, there are several ways you can use to speed up the process through discharge or loan forgiveness programs.

Now, the challenging part isn’t making on-time monthly payments. Instead, it’s the multiple student loan forgiveness programs, repayment plans, other alternatives offered by states, and more.

If you want to pay off your student loans, use this guide to find a program that fits your current situation.

8 Ways to Get out of Student Loan Debts

1. Income-Driven Repayment Plans

If, at the end of 20 or 25 years, you still have a loan balance on an income-driven repayment plan, it’ll be forgiven. Also, these plans can reduce your payment each month because your regular bill is capped at a percentage of your discretionary income.

However, remember that when you extend your payments to 20 or 25 years, it may cost you more due to interest in the long run. Also, any amount that’s forgiven will be taken as taxable income.

That means you’ll most definitely make one last payment before you gain your financial freedom.

2. Public Student Loan Forgiveness (PSLF)

If you work in public service for ten years, you could qualify for the Public Service Loan Forgiveness. To be eligible, you must work for at least 30 hours each for ten years in public service.

Besides that, you must make at least 120 qualifying payments each month under one of the income-driven repayment plans. Typically, you don’t get taxed when you receive loan forgiveness via PSLF.

However, the PSLF program may change in the coming years. The program is certainly not set in stone.

3. Teacher Loan Forgiveness

If you’ve been in the teaching service full time in a lower-income community school, you could qualify for Teacher Loan Forgiveness. You could have all of your Perkins loans forgiven and up to a maximum of $17,500 of a Stafford or direct loan forgiven.

4. Student Loan Repayment Assistance

You can find numerous universities and states, including some companies, who’ll be willing to offer student loan repayment assistance programs. Most (although not all) of these LRAPs are suited for professionals in specific fields such as pharmacists, teachers, doctors, veterinarians, etc.

Usually, LRAPs offer student loan forgiveness after one to three years of service. In addition, some universities provide loan assistance for qualifying alumni. But usually, they’ll have to work at a non-profit high-need area for some years before qualifying for the loan assistance.

Furthermore, employees receive student loan benefits from certain companies, which matches a percentage of their monthly payments. So, depending on where you work and live, you could be eligible for loan assistance that can help you get rid of your student loans.

5. Closed School Discharge

If your institution closed before you completed your program, you might qualify for a closed school discharge. To be eligible, you must either have withdrawn from the college less than 120 days before it shut down or be enrolled when the university closed.

If you completed your program before the school shut down and all you need is your certificate or diploma, you wouldn’t qualify for the loan discharge.

6. Total and Permanent Disability Discharge (TPD)

Are you a veteran with a disability you got from your service to the country? Are you receiving Supplemental Security Income or Social Security Disability Insurance?

If you have a medical condition that has hindered you from participating in any substantial gainful activity for the past 60 months, you could qualify for the TPD. Also, if the condition could result in death, you can be eligible for the total and permanent disability discharge.

7. Unpaid Refund Discharge

If you enrolled in an institution but withdrew along the way, the university may have to refund the remaining balance to the lender or the U.S. Education Department. If the school fails to give this refund, you may qualify for a discharge.

However, the refund will only cover the unpaid amount.

8. Discharge in Bankruptcy

First, it won’t be that simple to get a discharge in bankruptcy, but it’s possible with Chapter 7 or Chapter 13 bankruptcy. Before you can qualify, you have to start an adversary proceeding, and you can do that by filling a complete to determine the discharge.

After that, it’ll be up to you to prove that paying off your student loans will cause undue hardship. However, bankruptcy shouldn’t be your first or second resort; it should be your last.  You have to make sure you use all other student loan alternatives before you consider this option.


If you’re struggling to pay your student loans, you might be tempted to avoid your debts and walk away without making payments. However, ignoring your student loans won’t make the situation go away; it’ll only worsen it.

That’s because your loans will likely get into default, and that will result in dire consequences. And that could seriously affect your finances. So you need to find legitimate ways to help you get out of debt, and you can start with the tips outlined in this guide. If you don’t know what to do, it’s always advisable to talk to an expert.

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How You Can Avoid Credit Cards That Have Red Flags




When you are searching for a credit card, you may examine multiple types of red flags, and you could avoid credit cards that have a high interest rate, extra fees, inflexible terms and a low credit limit. Before you submit an application, you could also evaluate the reputation of the lender. You may read many testimonials that describe the lender, the features of the credit card, the rewards and the experiences of customers.

Estimating the Fees

Some credit cards may charge substantial fees, and if a credit card requires an annual fee, you may avoid that credit card. Once you review the terms of the contract, you should examine the fees, the benefits of the credit card and the policies of the financial institution. Subsequently, you could obtain a credit card that does not charge fees, and this credit card may consistently reduce your monthly payments.

Determining the Interest Rate

Before a lender provides a credit card, the company could examine your credit score, the unused credit, the debt and the open accounts. Afterward, the business can quickly determine the interest rate of the credit card. If the credit card has a high interest rate, you may search for other credit cards, and you could select a credit card that provides a better interest rate, multiple incentives and online tools.

Reviewing the Terms of the Credit Card

While you review the terms, you can examine the company’s policies, the fees, the due date of the payments and the rewards. Some credit cards could also provide a cash advance, yet once a customer obtains a cash advance, the company may charge extra fees. Usually, you should avoid a credit card that has inflexible terms, and you could find credit cards that can provide cash advances, low fees and flexible terms.

Examining the Rewards

Some credit cards may provide incentives that can help you to save extra money. Once you make a purchase, the financial institution could automatically offer cash back, and after you access your online account, you can estimate the value of each reward. The company may also offer tools that will allow you to monitor your credit score. If a credit card does not provide substantial rewards, you may search for another credit card, and you could obtain a credit card that can reduce the interest rate, offer valuable rewards, consolidate several types of debt and decrease the monthly payments.

Comparing Many Credit Cards and Submitting an Application

Lantern by SoFi has designed a marketplace that can allow the customers to compare multiple types of credit cards. The borrowers may examine each lender, the benefits of the credit cards, the interest rate and the credit limit. Once the customers compare credit card offers, the borrowers could also find many credit cards that do not charge fees, and the customers can select credit cards that will help the borrowers to consolidate debt. Before a borrower submits an application, the company might prequalify the customer. Subsequently, the borrower could submit an application, examine the terms of the credit card, receive multiple incentives and utilize the credit card.

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Bank Refinance Home Loan




Interest rates are at all-time lows. If you’re considering a refinance on your mortgage, now may be the perfect time to lock in your rate.

If you’re consider Bank refinance home loan, now may be the perfect time to do it! Interest rates are at an all-time low, which means that right now is a great time to take advantage of lower interest rates by refinancing your mortgage. These low interest rates won’t last forever and when they rise again, it will be much more expensive for you to borrow money than if you were able to secure a refinanced home loan today. All this is to say that as you take a look at possible loan alternatives, refinancing your mortgage should be high on your list of possibilities. There are several reasons why this would be a good idea for you.

Refinancing can help you save money on interest and make it easier to deal with the financial stresses of monetary obligations. For example, if your interest rate is higher than what the marketplace can offer now, refinancing will allow you to lock in your rate for years to come and potentially save thousands of dollars in interest over the life of your loan.

Refinancing may also allow you to decrease the size of your monthly payments by lowering them below what they are now.

There are several loan types that you may consider for a refinance, such as a cash-out, interest-only, flexible payment plans and even home equity loans or second mortgages. Whatever your needs are and whatever works best for you, refinancing your home loan can be just what you need to help manage monthly financial obligations.

In today’s world, living in the moment is not always easy. On the one hand, you have to stay alert for opportunities and opportunities are plenty. On the other hand, your new business venture is still in its infancy and there is no sense getting ahead of yourself or making plans that will be irrelevant a month from now . . . if you know what I mean?

Here’s some ways to help you stay focused on your goals as you navigate through life: it’s all about priorities.

Prioritize: If there are multiple projects that could benefit from your attention, it may seem easier just to go with a little bit of this and a little bit of that. However, if you are going to be able to fit everything into a reasonable amount of time, it’s important that you make a plan and stick to it.

From paying bills to spending quality time with your loved ones, you will need to do what is necessary day-to-day. But don’t forget there will be days where you won’t have enough work or money coming in to reach the goals that you set when creating your plan. Look back on all the different tasks that were included in your plan and prioritize them based on how much time they take and how much money they require. Put yourself on autopilot so that you can focus on one thing at a time so that your mind can truly relax and feel at ease.

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Benefits of the Endowment Plan




An endowment plan is a life insurance policy that provides the benefits of insurance cover and saving plan. The endowment plan allows you to save regularly over a certain period to allow you to get a lump sum amount upon the maturity of your policy if you survive the policy term. However, in case of death, then the insurance company will pay the amount assured to the beneficiaries of the policy. If you are looking for an insurance policy that covers your life and also helps you save regularly over a certain period, then taking an endowment policy could be the right choice for you. The maturity amount can be used to meet your various financial obligations, including paying for your children’s education, buying a house, your retirement, buying a car, and much more. It is upon you to decide how to use the money. In this article, we will discuss the benefits of the endowment plan.

It provides higher returns

One of the greatest benefits of taking an endowment policy is that it guarantees higher returns to the policyholder. It is the best insurance plan to take if you want to guarantee the future financial stability of your family. The payout of death and survival benefits of an endowment plan is much higher compared to that of life insurance. Visit to get more information about endowment plan returns.

It is a low-risk plan

An endowment plan is considered a low-risk investment compared to many other insurance plans. So, if you have a low tolerance for risk, then this could be the right plan for you. An endowment plan usually gives the policyholder the maturity amount if he/she survives the policy. This explains why this plan is widely preferred by risk-averse investors.

Dual benefits

An endowment plan provides two benefits at the same time. It allows you to save for the future and also provides life insurance benefits. In case of the policyholder’s untimely death, the beneficiaries will be paid the sum generated and if you survive the period, then a single payment will be paid to you upon the maturity of your plan. So, when you take the endowment plan, you will be killing two birds with one stone.

Flexible premiums

Another benefit of an endowment plan is that it gives the policyholder much-needed flexibility when it comes to the premium payment. As the policyholder, you can make premium payments based on the policy that you have chosen. For instance, you can make payments on a monthly, quarterly, half-year, or yearly basis. It is upon you to choose which payment plan suits you.


From the information shared above, it is evident that the endowment plan is one of the best and most profitable insurance investment options. More so, this plan comes with low risk, higher liquidity, and dual benefits. In fact, when you compare the benefits of this plan to those of other products, you will quickly discover that you will get value for your money if you choose this plan. The endowment plan also guarantees you and your family complete financial stability in the future.

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