It’s easy to look at student loans as something simple to understand, to take out and to repay. The reason behind them is simple enough - funds to pay for post-high school education.
Federal student loans were introduced under Title IV of the Higher Education Act in 1965 along with federal grants and work-study programs. Federal student programs are available while enrolled at accredited institutions and can be used for traditional 4-year college educations as well as technical, career and trade educations.
What if you could pay off your mortgage faster - much faster - in 5 to 7 years? What if you could pay off your mortgage that much faster without making extra payments or larger payments? What if paying off your mortgage that fast translated to learning how to move your money around more efficiently so that it works for your advantage?
Mortgage optimization strategy is the action plan that allows you to accomplish paying off your mortgage in 5 to 7 years and save tens to hundreds of thousands of dollars in mortgage interest.
To understand how this alternative form of financing your home works let’s look at how both traditional mortgage systems and traditional banking work.
If you’re looking into refinancing your student loans, SoFi may be able to significantly reduce the cost of that debt. SoFi is the leading provider of student loan refinancing and has funded $5B+ to over 60,000 borrowers nationwide – saving their average borrower around $14k.* Their competitive rates and member benefits are what have made SoFi the go-to student loan refinancing company for thousands.
Now that we are in the middle of the graduation season, you will find many stories about the mounting level of student loan debt. There are now over 40 million borrowers with an average balance of around $29,000. The total amount of debt is up to about $1.3 trillion and there will be tens of billions more by the time this graduation season is complete. That is a lot of money that must be paid back and therein lies the challenge for so many borrowers. It is estimated that over 13 million people have past due balances and that one out of every twelve student loans is in default.
One of my trusted and recommended resources that will allow you to easily customize your auto loan by extending the auto loan term and lowering your monthly payment is LoanGEN. It is an easy to use tool that you can access at the following website: www.myLoanGEN.com.
Jordan Goodman recently appeared on Power Your Life with Dr. Jo Anne White.
Click the link below to see the show.