2581 Search Results
Consequences for Late Student Loan Payments
https://www.sofi.com/learn/content/late-student-loan-payment/
If you fail to make a student loan payment by its due date, your loan becomes delinquent, and there are all sorts of consequences that can result, from late fees to having your loan sent to collections. These consequences will typically depend on how long your loan is delinquent and whether you have a federal […]
Understanding Student Loan Debt and 1099-C
https://www.sofi.com/learn/content/10990c-student-loan/
It isn’t unusual for college students and graduates to be in debt due to education-related borrowing. Nearly half of adults under the age of 30 took on some student loan debt in 2019, according to a Federal Reserve report , with the typical amount being between $20,000 and $24,999. As for the overall amount of […]
How Student Debt Interest Cancellation Works
https://www.sofi.com/learn/content/student-debt-interest-cancellation/
Normally there is no simple way to cancel interest on student loans. There are programs under which different kinds of federal student loans could be forgiven or discharged, but they are not easy to qualify for. Then there’s non-COVID-related forbearance, during which interest does accrue. During the 2020-21 coronavirus-related “administrative forbearance,” interest rates were set […]
How to Start Investing This Year
https://www.sofi.com/learn/content/how-to-start-investing/
You’ve probably been in one of these conversations, before. Someone who’s older, maybe a teacher or a family member, encourages you to start investing as soon as possible. It’s well-meaning advice. On an academic level, you know that the younger you get started, the more you can allow the magic of compounding investment returns to […]
When Should I Start Saving for My Child’s College?
https://www.sofi.com/learn/content/when-to-start-saving-for-child-college/
It’s hard to find anything close to the pride and joy having kids can bring you. And one of the best gifts we can give them is a solid education. That means reading to them when they’re toddlers, helping them with homework, and paving the way to college. It’s a good idea to begin putting […]