Student Loan Success Strategies - Introduction

Student Loan Success Strategies - Introduction - You can do this!

I was responsible to come up with my own finances for undergrad and law school. I have gone through this process twice and have come out debt free. You can do this too.

Actions to achieve success:

A. Understand your loans,

B. Carefully plan a personal budget,

C. Exercise discipline and be consistent in your payments and you will receive the benefits long-term.

Info from "Success Strategies & Repayment Realities: A Guide to Repaying Student Loans," published by Access Group, Inc.

Comments

Book notes from: The Great Depression: A Diary, by Benjamin Roth (2009)

Roth 's book c ompares the economic conditions in 1873 to 1929-1934: The 1873 panic was preceded by Civil War- then 8 or 9 years of hectic prosperity, speculation, rising prices, corruption in government- and then sudden panic, bank closings, etc. Organized movements to stop foreclosures. Wild schemes to inflate currency. "The panic of 1873 lasted 5-6 years," and the Great Depression started in Fall 1929 and lasted through the early to mid 1930's, in which 4 years were hard until they started seeing true signs of recovery.

Student Loan Success Strategies - Who is involved

Participants in your education loan repayment include: A. Lender - (Who loaned you the money) Bank, savings and loan, credit union or organizations. B. Borrower/Student/Debtor, etc. - You. C. Holder - (Who owns it now) Current owner of the loan and has legal title. You will likely change who you make payments to. D. Guarantor/Co-Signer - (Who will pay if you can't pay or stop paying) - Parent, other adult, state agency or private, nonprofit organization who promises to pay if you either miss or stop making payments, die, go on disability, or file bankruptcy. Note: Servicers may also participate, which are companies that specialize in handling billing, collections, and deferments for loans. Info from "Success Strategies & Repayment Realities: A Guide to Repaying Student Loans," published by Access Group, Inc.

Getting to Spira

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