LoanSense’s Post

🔔 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. Got questions or comments? Drop them below! I’m happy to answer. #StudentLoans #Finance #MBAConference #FannieMae #FreddieMac #FHA #DebtToIncome #LoanForgiveness

It's Money Monday! Today, let's dive into student loans. The total amount owed in student loan debt is a staggering $1.73 TRILLION, with recent college graduates owing an average of $35,000. Before you sign up for that student loan, ask yourself if the degree will boost your income enough to cover the cost of the loan and how long it will take to repay. Also, consider if you’re entering a field where student loan repayment is part of the compensation package—it could make the debt less daunting! Whether you're trying to navigate student loans for the future or already feeling overwhelmed by them, schedule a discovery call with me at https://lnkd.in/etyT8rY4 today! Let's find a path to financial freedom together. #GracefulMoneySolutions #Moneycoach #MoneyMonday #StudentLoans #FinancialPlanning #DebtFreeJourney #DiscoveryCall

Have you been told you can’t buy a home because of student loans⁉️ Unfortunately a common misconception in society is having student loans prevents you from buying a house. This could not be further from the truth. Remember, I, as a lender, don’t care about the balances of your debt (including student loans). All I care about is what’s your monthly payment requirement. Now, you may say “Chad, I don’t have a payment because my loans are deferred.” The underwriter has to count something, so we follow the guidelines that contain formulas on how much is required to be used. The good news is in recent years the guidelines have become more lenient which allows me to help qualify more people! If you have ever been told “no” to a loan because of student loans or other reasons, please reach out. I help save loans every single day that other lenders cannot do! DM and follow me! #studentloans #homebuyertips #homebuyereducation #mortgagetips #mortgageexpert #homeownership #firsttimehomebuyer

Student loan delinquency rises in 29 states, WalletHub study reveals LINK: https://lnkd.in/e25ZasbG #BankingAndFinanceNews #FinancialPayments Please LIKE & REPOST

Student loan delinquency rises in 29 states, WalletHub study reveals LINK: https://lnkd.in/emNFisRP #BankingAndFinanceNews #FinancialPayments Please LIKE & REPOST

Student loan interest rates are at near-record highs, driven by volatile market conditions, Federal Reserve policies, and legislative factors. #StudentLoans #InterestRates #HigherEducation #FinancialPlanning https://lnkd.in/dXVySrpZ

According to the National Student Loan Data System and recent surveys of student loan borrowers, about 7 million borrowers are unable or unwilling to make their payments. With only two weeks left in the on-ramp period, those record-high delinquency rates will turn into record-high default rates unless colleges implement strong default aversion plans. https://lnkd.in/gc4uVqiM #studentloans #financialaid #highereducation #default National Association of Student Financial Aid Administrators (NASFAA) Career Education Colleges and Universities

According to the Department of Education, nearly 20 million student loan borrowers in the United States are currently not making payments on their debts. As of now, approximately 43 million borrowers owe a combined total of more than $1.6 trillion in student loan debt, with the average borrower owing around $28,950. https://lnkd.in/gGijBybR Read more here^ #infinitenewsdesk #news #educationews #USA #studentloans #debt #proudlyinfinite

Reform is needed.

❗ Did you know 10 million borrowers are behind on their student loan payments as of January? Of these 10 million, 6.7 million are seriously behind, defined by over 90 days behind. This is a problem! 📣 Lenders, now is the time to assist borrowers before student loan repayments impact their credit scores. With the "on-ramp" period ending on Sept. 30, missed payments could lower scores, making it harder for borrowers to qualify for mortgages. Help your clients navigate repayment options, improve their financial standing, and position them for successful loan originations in the future. #Lending #StudentLoans #MortgageLoans #BorrowersFirst #LoanOrigination