Money Talk: Options for Paying for College

Question: I have two kids heading to college. Both need co-signers for their student loans. Will me co-signing have a negative effect on my credit? The kids have no choice. I’m middle class, having made enough to get myself by as a divorcee, but there’s no college savings. To make matters worse, I make just over the base for them to get a Pell Grant. I’m concerned about my credit, but my kids need to go to college. Answer: Your...

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Two-Tiered Mortgage System Means Higher Costs for Some

Even as the housing and mortgage markets are stabilizing, many borrowers with good credit remain shut out of the home loan market or saddled with a new array of fees and extra costs. Lending standards may have loosened since the end of the Great Recession six years ago, but mostly for buyers with excellent credit scores of more than 700, analysts say. Borrowers with minor credit dings, or down payments of less than 20 percent, still...

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Tips for Those 20-Somethings on Handling Finances

Finding a job, renting an apartment, repaying student loans — when you’re just starting out, getting on your financial feet can be overwhelming. A recent study by Money Under 30, a personal finance blog for 20-somethings, found that many young adults have to make significant compromises when starting their financial lives. The study, which surveyed more than 250 individuals ages 21 to 29, found that 14 percent of them are not saving...

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Money Talk: Best Loan Repayment Plan? It Depends

Question: I have $105,000 in medical school loans with an interest rate of 2.875 percent. I have another consolidated federal loan at 6 percent. I’m making $180,000 in the private sector and like my job. Should I consolidate everything, try to get a public sector job, and apply for loan forgiveness after 10 years while paying as little as possible? Or should I accelerate my loan payments? I would be able to pay almost the full amount...

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College Grad’s Guide To Managing Money In the Real World

Washington — The inspirational speeches are over. The celebrations have passed. And now, it’s time for the college grads who’ve landed jobs to start working. While their paychecks will likely be the biggest they’ve seen so far, they probably won’t feel big enough to cover the rent, student loan payments and credit card debt they may have amassed as broke college students. There are ways to stretch those meager earnings, though,...

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