Janna Fox’s Post

In a world of variety, what is one of the biggest scams that you can think of? -College student loans- Why?? Is it because people know exactly what they will be doing for the rest of their life? While students are in college, the rest of the world (mostly) is getting work experience. When a student graduates and has some sort of collegiate advantage, the cost of living and repaying their unknown future, is not always realistic. The average person changes professions 5-7 times. (stats) What is one of the biggest scams you can think of? I think college is great, but the student loan equations misrepresents many who started something, and then finished, with unknown futures.

Interest rates on federal student loans are climbing for the 2024-2025 academic year, the Education Department’s Federal Student Aid office announced on Tuesday. The new rates are the highest in more than a decade. Rates for federal direct undergraduate loans will be 6.53%, up from 5.5% for the current academic year, and the highest in 16 years, according to student loan expert Mark Kantrowitz. The higher rates could frustrate the Biden administration’s efforts to make higher education more affordable. President Joe Biden, who has campaigned on student debt relief, has canceled more than $146 billion through a variety of programs, though the Supreme Court blocked his broadest $400 billion student loan relief plan last year. The new rate for direct unsubsidized loans for graduate and professional students is 8.08% for the next academic year, up from 7.05% now, and the new rate for Direct PLUS Loans for parents of dependent undergraduate students and for graduate and professional students is 9.08%, up from 8.05% now. ... #StudentLoans #InterestRates #StudentDebt

🚨 Important Update for Students 🚨 Student loans just got more expensive, with interest rates hitting the highest level in a decade. 📈📚 If you're currently navigating your education finances, it's crucial to stay informed and explore all available options. Let's support each other through these challenging times! 💪✨ #StudentLoans #Education #FinancialAid #StayInformed #CommunitySupport Education Dept. announces highest interest rate on federal student loans in more than a decade https://lnkd.in/g_Gaajkn

Federal student loan interest rates are increasing by over 1%, marking the fourth consecutive year of rises. Find out the impact of these changes on undergraduate and graduate loans. #LilyHo #StudentLoans #InterestRates #college #FinancialAid #loans #financialplanning

The interest rates on federal student loan rates will likely rise by about 1% in the 2024-2025 academic year. Here's what to know.

IGNORE THE BOOMERS. Only a boomer advisor would be so out of touch, as to tell students to take out $200k+ in student loan debt for a college degree that is NOT WORTH IT. The only rule to follow when choosing a college is “Go Ivy or Go Free” either go to a school that is so prestigious that it’s worth paying for, or go to the lowest cost option available to you and don’t let anybody tell you that that’s “beneath you” or garbage like that. People need to be honest about their finances, so they don’t end up in crippling student loan debt. #i#ivyleaguei#ivyroadmapa#admissionsc#collegeh#harvardg#goivyorgofrees#scholarshipd#debt

The U.S. Department of Education sets annual interest rates on federal student loans once a year. The percentage is based on the 10-year Treasury note, which has been on the rise while the Federal Reserve keeps interest rates high until inflation comes down. As a result, federal student loan rates may rise by about 1% in the 2024-2025 academic year, according to an estimation by higher education expert Mark Kantrowitz.

$1.76 TRILLION and 43.2 MILLION borrowers, with 45% in the Parents' Age Range The student loan debt statistics from 2023 are staggering. Out of the 43.2 million borrowers, we might expect the majority to be under 30, yet only 23% fall into that category. Surprisingly, 45% of borrowers are over 40, indicating that more parents are shouldering the cost of tuition and the accompanying debt. With average monthly payments at $503, it's likely these parents expect their children to repay the loans after graduation. However, this can be challenging if students graduate unprepared for the workforce. The University of Alabama recently shared a link in their Parents' newsletter (provided by CampusESP) about a Fresh Start Program for Defaulted Student Loan Borrowers. This initiative is critical for those struggling with debt. The job market remains robust, and many companies are eager to hire. It's never too early for students to begin career planning, especially if they are expected to contribute to their college expenses. Preparing for a successful career can help ease the burden of student loan debt and set the foundation for financial stability. #StudentLoans #CareerPlanning #HigherEducation #FinancialLiteracy #WorkforceDevelopment #925plan #EarlyInvestor #CollegeParents #FlownandGrown https://lnkd.in/eDsAzs5C

I’m excited to share my latest video, where I talk about how I paid off $50,000 in student loans in just 15 months. Graduating during the COVID-19 pandemic, I went through a tough period of unemployment and had to adapt quickly, learning to manage my finances while navigating an uncertain job market. In the video, I break down the key strategies that helped me—consistent payments, smart budgeting, taking on extra work, and leaning on emotional support. I also reflect on lessons learned and what I could have done differently to make the journey smoother. Whether you’re paying off student loans, saving for a home, or working toward any financial milestone, consistency is key! I hope these tips will be helpful. Watch the full video https://lnkd.in/g6S7j4N2 and feel free to share your own debt management strategies in the comments! #internationalstudents #studyinaustralia #debtfree #moneymanagement #howipaidoffstudentloan

🔔 Over 4 million student loan borrowers currently have zero-dollar student loan payments through Biden's new SAVE program. 🏡 Fannie Mae is the only agency that accepts a zero-dollar payments. 🏡 Freddie Mac and FHA use 0.5% of the loan balance to calculate debt-to-income ratios. 🔮 Prediction: Freddie Mac and FHA might eventually accept zero-dollar payments as actual payments. Important points: ✔ Zero-dollar payments does not mean borrowers are delaying repayment ✔ Student loans are being forgiven annually without negative amortization. ✔ The program has complexities like changing repayment lengths based on how much was originated. It may not be ideal for higher earners. #StudentLoans #Finance #MBAConference #FannieMae #FreddieMac #FHA #DebtToIncome #LoanForgiveness