Monthly Archives: September 2017

Pay Off Student Loans Early

An ongoing debate on paying off students loans early has created confusion in the minds of many graduates, who have recently passed out from colleges and are enjoying a professional life.

TAGGED UNDER: Student Loans

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Education costs have increased to unprecedented levels in the last couple of decades. Therefore, student loans come in handy for people with financial constraints. Majority of us have to opt for loans during our college years to fund our education. Paying them off is a responsibility, that cannot be shirked. Many people who work for a couple of years, after finishing graduation, keep their student debt.

Instead of paying it off early, many people make it a part of their larger debt payment plan. If you have been doing likewise, you need to think carefully about the entire scenario. If at all you’re unable to do the math regarding the money, consult a financial adviser.

Why You Should Pay Off Your Student Loan Early

People have all sorts of misconceptions about repayment of student loans. Some try to keep them for tax breaks, while some believe it will help them in their debt payment plans. While arguments for both sides can seem justifiable in individual circumstances, here are some very fundamental and practical reasons for paying them off early.

Improvement in Debt-to-Income Ratio
Some simple math will help you to understand that lowering your debt-to-income ratio can easily help you save some money for your future financial commitments. If you pay off your loan early, you’ll have more money available for yourself, as you won’t be having any such commitments in the future. The same amount that is being used for repayment, can be invested in better options.

Isn’t the Student Loan an Additional Payment?
Every month, you’re bound to withdraw some money to pay off the loan. This is in itself an extra payment deducted from your earnings. Moreover, if you’re planning to keep your student debt for a tax break, then give it a second thought after studying the federal income tax laws. Mostly, only USD 2500 of the interest can be deducted every year. Added to this, if you start earning a decent amount (say USD 70,000) per year and you’re unmarried, your tax break amount may be phased out. Eventually, you’ll either pay more interest or more tax, so ideally, it is better to pay off student loans as quickly as possible.

Think of Better Investment Plans
Mutual funds and similar investment options are ideal for people who want their money to be managed by professionals. Such investment opportunities are also extremely beneficial as they have high growth rates. Why not repay the debt early, and use this amount to invest in mutual funds? That will be the best utilization of the earning potential of that amount.

The Pros and Cons of Homeschooling

Let us get back to the future! Confused? Well… all I mean to say is let us get back to those olden days which determined a strong and healthy generation that promised a secured life for their parents and country. ‘Home’ is the first temple of learning. It is the pious place where a newly born infant is taught the value of relationships, respect, responsibility, and duty. Tracing back to those olden days where there was no alternative to seek education other than one’s own home, homeschooling then was a common phenomenon.

Homeschooling is not a new concept, which is evolving now; rather it is an old concept which could not evolve properly and is blooming lately among us.

What exactly is Homeschooling All About?
Answering this question may leave you perturbed for sometime since we accept public schooling as an inevitable norm in our lives. Homeschooling refers to the education provided to children at home usually by parents or guardians instead of public or private schools. It is an option for that parent who chooses to provide their child an education, which is deeply rooted with their chosen social environment, which they believe, is unachievable in schools. The rising graphs do tell us a story about homeschooling, as a burning desire of parents to gain control over the educational bureaucrats and reestablish family as the only option left for child’s education.

Now that you are familiar with the term, there is an ongoing conflict in you mind which is trying to pacify your urge to opt for the same. But wait… before figuring out to reach a final decision let us weigh the pros and cons of homeschooling. If you relate each advantage and disadvantage along with your personal life, you can identify some inevitable benefits and disadvantages.

Pros of Homeschooling

#1 Tightens Family Bonds
Homeschooling not only provides a child with a sense of understanding about the social, cultural, and ethical norms of the family; but also acts as a binding force among the family members. It gives the parents the opportunity to develop a strong bond with the child.

#2 Safe Haven
It provides you an ultra protective shield for your child, which saves him from the filthy activities which may attract your child. Your anxiety about your child’s safety is eased and you are constantly aware of their well-being.

#3 Greater Education
The child can choose the subjects of his choice and gain in depth knowledge in various topics. Such children are not made to cram information and can instead understand the basics of the subject and dwell deeper into the why and how of the issue. The take up education for the sake of knowledge. Today people are judged by their qualification and the number of degrees they hold, however none of these make you any wiser than someone who is truly informed and mentally empowered.

Student Garnishment

Defaulting on student loans can have serious consequences like wage garnishment, wherein the US Department of Education can instruct employers to withhold a portion of the employee’s salary in accordance with the respective laws.

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Federal government helps students to pursue higher education by providing a number of loans under the Federal Student Aid Program. The loans that are sanctioned under this program can be obtained directly from the Federal Government, or one may be required to obtain one from institutions participating in the FFEL (Federal Family Education Loans) program. Federal Stafford and Federal Perkins Loans are administered by the government under the Direct and FFEL programs. Repaying the student loans that are sanctioned under the Federal Student Aid Program begins usually 6 to 9 months after a person graduates or drops out of school. The rate of interest is generally reasonable; more so, on Perkins and subsidized Stafford loans. Defaulting on the loan can backfire since the government has devised a number of ways of ensuring that defaulters make their promise to pay. Wage garnishment, wherein the government takes away or garnishes 15% of a student’s disposable income as penalty, is one of the ways of recovering the amount.

Comprehending Student Loan Garnishment

The Debt Collection Improvement Act of 1996 (DCIA) authorizes Federal agencies to garnish the disposable income of an individual, without a court order, in order to collect delinquent non-tax debt that is owed to the Government provided the individual is not a Federal employee. According to this Act, The US Department of Education (ED) is authorized to garnish 15% of the erstwhile student’s disposable income in lieu of unpaid student loans. The organization that employs the student after graduating/dropping out of school is expected to comply with rules regarding garnishment even in the event of filing bankruptcy. If the employee files a bankruptcy, the employer, in addition to informing the ED, is supposed to advise the debtor to report the change in status to the government. A person whose wages are to be garnished can annul the proposed garnishment by repaying the dues within 30 days of notification. The ex-student also has the option of making alternate payments that would equal 15 percent of his/her salary to avoid it. People who have been unable to repay the borrowed sum on account of hardships may be given due consideration by the ED.
Wage garnishment can be disputed by thwarting the existence of the debt or by proving that the proposed one could result in extreme financial hardship. The ED does not have the authority to garnish wages if the former student has been involuntarily unemployed for a period of 12 months. The Consumer Credit Protection Act limits the amount of money that can be withheld to 25% of the debtor’s pay.

Score Better By Acquiring Essay Writing Help

“Oh God, another essay.” A feeling almost every student has when it comes to writing their essays. The time your parents enrolled you in the school, you are forced to write essays let it be 5 liner moving to 5 paragraphs and as time passes by moves to 5 pagers. The level of quality with the passing time and grade intensifies. You cannot be expected of delivering the same quality of essay that you were writing 5 years back the time. Crying over it and cursing cannot help you in anyway.

You have to do the work and you have with your procrastination made stack of essays. Oh, you might be thinking no its not procrastination, possibly you have so much to do in your 24 hours that managing 40 or 45 minutes for writing an essay is unmanageable. The statement is true, that students no matter how hard they try cannot cope up with everything they have under their belts. What you need currently is an academic help from academic writing services.

How do these academic writing services help students?

Professional Writers: Every student wish to have a 24/7 available professional essay writer with them, who can help them write an impeccable essay within their set deadline. These services are actually providing such round-the-clock services. Essay writing services employ professional writers who are native, specifically with the idea behind that these native writers will be more aware of educational system of the UK than any other non-native writer. Additionally, these writers are made part of such services through rigorous testing. They are then trained in dealing within the trickiest of the essays. Their searching skills are developed, along with other skills to ensure they do not miss out any information relevant to their topic over the internet.

Extensive Research: You always wonder why you are not able to acquire all the relevant information, when you sit down searching for your assignments and essays. You must have spent half your time searching for relevant information yet failed. You must be frustrated by now! These academic writing websites trained their writers with searching trick for gathering extensive data relevant to the field of study. They additionally have access to different databases, e-libraries and portals from where they gather more relevant information,hence making the essays more informative.

Proof-read and Edited: Who minds an assignment or essay proof-read by professional and refined to make it a good read. Everyone fancy’s that. These academic writing services after writing essays make sure they are proof-read thoroughly by the proof-readers and then edited by the editors, who ensures the compliance.