On March 20, 2020, the Department of Education announced terms for student loan relief for tens of millions of borrowers in response to COVID-19.1 Here are answers to some questions about the new rules. Does the relief apply to all student loan borrowers? This relief only applies to borrowers with outstanding federal student loans. Private
If you are a young adult just starting your first job, chances are you face a number of different challenges. College loans, rent, and car payments all may be competing for your hard-earned yet still entry-level paycheck. How can you even consider setting aside money in your employer-sponsored retirement plan now? After all, retirement is decades
According to the Bureau of Labor’s Consumer Price Index, from December 2005 to December 2015, the average cost of a college education has gone up 55%. With the ever rising costs of tuition, it’s important to start saving early for your child’s college education. Read on for an overview of various ways to save for
As I’ve mentioned in previous posts, Elevations Credit Union is committed to education and financial literacy at all life stages. And it’s never too early. In fact, research suggests that the elementary years may be the window of opportunity during which education can influence financial behavior in later life. Unfortunately, we still don’t have a
When you’re considering applying for a loan, understand how underwriters look at you and calculate your debt-to-income ratio (DTI), plus take into consideration your financial situation and obligations to feel comfortable, as well.