Source: Mother Jones

ALSO READ: Weedonomics

Student loan debt is getting out of hand.

At $1.3 trillion, student loan debt is only second to mortgage debt in the U.S. and is going to rise even more as the years go by. The US leads the world in tuition fees charged by public institutions, and at $8000 annually, is nearly double that of Canada and Australia. Tuition is growing like a weed, and has outpaced inflation by a factor of five-to-one in the last thirty years.

With $1.3 trillion in debt and 44 million borrowers facing the burden, that works out to a debt load of nearly $29,400 per person!


Get Up To $1,000 in Free Stock with Robinhood--the Commission-Free Brokerage!

Open a new account and receive one free stock valued at up to $500! Then, once your account is open, get more free stocks (value from $5 to $500) for each friend, family, person you refer! USE THIS LINK to get started with Robinhood!

As student debt accumulates, people are also finding it harder and harder to make their payments on time. That shouldn’t come as a surprise, but serious delinquencies, defined as people who are 90 days late (or more) on their payments, are the highest they’ve been in 20 years – nearly twice what the delinquency rate was in 2003.

If you are a student wallowing in debt and nearing graduation, now is the time to rethink ways to refinance your debt. As daunting and nerve-racking as it may be, there are solutions to your debt problems so don’t panic just yet!

Here’s how a woman from Iowa refinanced her student loan.

After graduating from her reputable private college, Meg C from Des Moines, Iowa was blown away after noticing how much her student loan had grown over time. Between federal and private loans, Meg was looking at a bill of more than $100,000!

Just like many other students, Meg found that she would struggle to make her monthly payments. At $1200 a month, her loan payments represented a big chunk of her take-home pay from her first job as a graduate. When more than half of your salary goes towards paying off student loans, it doesn’t leave a whole lot of room to simply live your life.

As a result of that, her interest rates went up, reaching close to 10 percent, with monthly payments unable to substantially chip away at the principal. Meg realized that she needed to take control over her finances before she drowned in debt.

She learned later on that student loan refinancing could lower her interest rates. She proceeded to check out the rates of some potential lenders. Luckily for her, she came upon LendKey, a company that specializes in helping people restructure their loans.

  • About LendKey: LendKey is a lending platform and online marketplace that allows individuals to apply for and receive student loan refinancing from their local credit unions and banks. The company believes that borrowers can take advantage of the low-interest rates offered by community banks and credit unions. However, unlike other student loan refinancers, LendKey doesn’t directly provide funds to borrowers. It only compares student loan refinancing offers from various community banks and credit unions countrywide.Simply put, LendKey is like the Uber of student loan refinancing. It doesn’t own the funds that you intend to borrow helps connect you to the right financiers. The cherry on top of the student loan sundae? There are no service fees, but in order to be eligible, your credit score and salary must exceed a required threshold and you must be a citizen of the U.S.

Service at LendKey is rapid, and Meg was able to apply for a refinancing contract in a matter of minutes. Within a few days, she was approved for a 150year loan, with an interest rate nearly half that she was incurring at the time!


Source: Quick Loans Money

With LendKey, Meg’s interest rate went down from 10% to 5.79%. That means that Meg was able to save $4210 on interest payments. That is huge!

Furthermore, LendKey allowed Meg to go from a 10-year payment plan to a 15-year payment plan. The increased time-frame meant smaller monthly payments, giving her more wiggle room. Smaller monthly payments means more money to spend on groceries and other necessities. By refinancing, Meg was able to offer herself peace of mind and flexibility. She now had the ability to save for an emergency or even invest money with her retirement in mind.

If you find yourself in a similar situation to Meg, here’s what you should do.

  • Step 1: Research your rates: Most lenders such as SoFi, Lendkey, and Common Bond are able to furnish you with estimated rates after providing them with some basic information about yourself and what you are looking out for in a matter of minutes.
  • Step 2: Choose your new loan: After meeting the requirements and qualifying for refinancing, lenders will offer you a variety of loans with different terms and interest rates. Flexible repayment options are offered to you allowing you to choose between 5, 10, 15, and 20-year repayment terms. Additionally, you’ll have variable and fixed rate options to choose from.
  • Step 3: Fill out your application: You’ll need a proof of your citizenship, a valid ID number, proof of income, loan statements and perhaps, the information of your co-signer only if you are applying with one. These are standard documents that lenders would typically request.
  • Step 4: Wait for approval: The last and probably the most crucial step is where you would have to wait for approval after submitting your application. In Meg’s case, it didn’t take too long till her application was approved by her lender and funds released shortly after.

If you are tussling with huge student loans and feel the burden of having to make huge monthly payments on time every time, you need just stop and look around for help.

Visit LendKey today to see if they can help you today.



The markets have dropped over 30% since their highs just a few weeks ago because of the Coronavirus, but we are starting to see more signs that this might be a PERFECT BUYING OPPORTUNITY:

#1. HOT Fool Picks in Spite of Crash. Here is why we love the Motley Fool--On Thursday, March 19, 2020 they recommended Zoom Video (Ticker ZM) when it was at $124. Today, March 23 it closed at $160, that's up 29% in 3 days! But that's not all, they also recommended it October 3, 2019 when it was at $77 so that is up 108% since they picked it back in October, in spite of the market crashing 30%. Other recent picks are TSLA, NFLX and TTD which are all UP since they were picked!

#2. Stock Prices Are Down 30%.  This is a good thing! If you are thinking of buying stocks, now's your chance to get quality companies at much more affordable prices. This offers a very attractive entry point, because stocks are ON SALE and you can now buy quality stocks for 30% less than you would have paid for them in February.

#3. More Articles Are Starting To Recommend Buying. As we are nearing the bottom of this drop, we are starting to see more articles like this: BlackRock is suggesting we may be at a "once in a lifetime opportunity", Morgan Stanley says to start buying, and Warren Buffet has a stock pile of cash and rumors are he is starting to buy.

#4. Dollar Cost Averaging Works! Since nobody knows where the bottom will be exactly, smart investors continue to invest a fixed dollar amount in the market each month. This is called Dollar Cost Averaging. That way, when the markets are down you are buying more shares of your favorite stocks at cheaper prices. This helps drive down your average cost and increase your profits when the stock market moves back up.

If you need recommendations for stocks to buy now, keep in mind that the Motley Fool Stock Advisor beat the market by over 30% the last 4 years, and they are currently recommending that NOW IS THE TIME to start buying some of those quality stocks that should make up the foundation of your portfolio. The Motley Fool Stock Advisor service is recommending at least 15 stocks that you should plan on holding for the next 3 to 5 years. So, if you need investing ideas, it is a PERFECT time to consider the best stock newsletter over the last 4 years--The Motley Fool Stock Advisor

Normally it is priced at $199 per year but they are currently offering it for just $99/year if you click this link

P.S. this offer is still backed by their 30-day money back guarantee.
P.S.S. Still skeptical? Read this complete Motley Fool Review.

Previous articleWeedonomics
Next article5 Hottest Publicly Traded Companies Right Now


  1. Never stop paying off debt and do not put anymore on once paid off! Refinance, 0% interest balance transfers etc… Get your credit score up and get out of debt.