Debt Management and Minimization Many students seek a postsecondary education hoping to improve their career opportunities and financial future. Managing your money while in school is an important part of obtaining the lifestyle you want. However, poor money management, both while in school and after, can mean a large salary going towards debt and not much else. Follow these … [Read more...] about Debt Management
Take a Break from Payments Both deferments and forbearances give you a break from monthly payments for a set period of time. Many options are available to meet a variety of needs. If you are having difficulty making payments and want to see which options fit your specific situation, log in to your account and click Postpone My Payment to see which deferment or forbearance works … [Read more...] about A Break From Payments
Default Prevention The Missouri Department of Higher Education promotes default prevention and debt management initiatives related to student loan borrowing and repayment. Objectives include increasing the awareness of financing options for postsecondary education, reducing debt among postsecondary students and parents, increasing enrollment retention, reducing loan … [Read more...] about Default
Repay your Direct Loan / Federal Stafford Loan Here are a few details about repaying Direct Loans and Federal Stafford Loans: After you stop attending school at least half time, withdraw, or graduate, a 6-month grace period begins. You receive only one grace period per loan. Repayment begins after the grace period ends, with your first payment usually due 45-60 days … [Read more...] about Loan Repayment
How can we avoid becoming part of the debt trap? Recognize the Trap. Traps work because they’re disguised – they’re not easily seen or recognized. A trap is a lie. Ask yourself these questions: What’s the lie of debt? How is it disguised? Here’s how it is commonly misrepresented – “You need to build your credit to improve your FICO score., You deserve it!, It’s a part of … [Read more...] about Debt & Savings