While a college degree is well worth the money, student loans can give anyone the blues. According to the Consumer Financial Protection Bureau, student loan debt is more than $1.3 trillion and continues to rise. For many younger Americans, it has become the largest household debt.The Department of Education offers forgiveness programs to help borrowers with student loan debt. These programs include the Public Service Loan Forgiveness program and the Teacher Loan Forgiveness program. Both programs are designed to alleviate the student loan burden. Public Service Loan Forgiveness This program is available to borrowers who work full time in public
Credit card interest Are you a business owner? Did you make purchases on a credit card for qualified business expenses? While personal credit card interest is not deductible, you can deduct interest if your credit card was used for qualified business expenses. Bad debt expense Does someone owe you a bona fide debt? If you tried to get your money back, the Internal Revenue Service (IRS) will allow you to take a nonbusiness bad debt deduction on your tax return. A nonbusiness bad debt is a debt that is not in connection with a taxpayer’s trade or business on the tax
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  College can be expensive!  But there are still ways to help with the cost of college without getting into debt.  Here are five ways to pay for college. Scholarships There are many scholarships that go unused year after year.  Take the time to commit to apply for three or more scholarships per week.  Here is a listing of a few scholarships sites that can help with the cost to pay for college. Also, don’t forget to check with your nonprofits or churches that may have scholarship money available to you. UNCF.org Scholarships.com Scholarshippoints.com Fastweb.com Collegeboard.org Studentscholarships.org Salliemae.com Unigo.com 5
My personal finance blog, Kemberley.com, is based on five principles I believe are necessary to obtain a financial healing. These five principles have not only been a blessing to others, but have also been a blessing to myself to get my own personal finances in order. I refer to these principles as the B-A-D-G-E! A badge is defined as a means of identification. As you travel your financial journey and have to make difficult financial decisions, you have to be certain you are wearing the BADGE of God! So, let us look at what the B-A-D-G-E stands for! B –
Most of us have spent beyond our means. Trust me I know! During my college years, I owned all the latest designer fashions.  Well, shall I say borrowed because I didn’t really own anything, but Discover card did! Even when I purchased a designer item on sale, the fact of the matter is, I often paid 3 or 4 times more than the cost after accounting for the interest.  And the sad reality is, although my designer bags were trendy, they were lonely, because I didn’t have any cash to place into them! Admit it, you have a problem If you
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It is easy to give up when the cards aren’t dealt your way.  But if you only believe when times are good, then do you really believe at all?  When you reach the finish line and you do not have a story to tell, how are you going to encourage others to keep believing?  You have to make up your mind today that you will stay in the game no matter what!  You have to protest, giving up is not an option, and you simply don’t believe in defeat! So what has been holding you back for so long?  Is it the
If Jesus came back today and said to you, “Give me $1,000 and I will open the gates of heaven for you,” would you be able to receive your blessings? Or would you have to go to Fast Cash for a payday loan? For many Americans, an unexpected expense may cause a financial crisis. An illness, loss of income, home or car repairs can take a toll on your finances if you’re not prepared. A study by the National Foundation for Credit Counseling reveals that 33% of Americans do not have at least $1,000 set aside for emergencies. I know you are saying,
Sometimes, it can be tough to repay your student loans. Perhaps you have stumbled on hard times and are struggling to meet the terms of your Standard Repayment Plan. However, there is no need to simply default on the loan. Fortunately, you do have other options. If you have been having trouble repaying your student loans, these alternatives may be worth a look: Graduated Repayment Plan The advantage of the Graduated Repayment Plan is your payments start low and are scheduled to increase gradually, usually every two years. Depending on the type of loan, the repayment period is up to 10 years and will not ever
While you have no control over when you will get a raise, you do have a little leeway when it comes to your take home pay.  No matter if it has been years since you have seen a raise, there is something you can do about it. Check your allowances S1, S2, or M3 – what does it all mean? Your tax deductions depend solely on the information you provide to your human resources department via your W-4 form. This form determines the amount of taxes to be deducted from your check. If you’re withholding too much, you should increase
These days, simply earning money from your main gig may not be enough. Simply put – you may need to have additional income outside of your 9 to 5! Nothing teaches us this lesson better than the recent government furlough. For so long, we thought of government jobs as the safest employment opportunity, however in a blank of an eye, many government workers found themselves seeking financial assistance to make ends meet.   Here are a few tips to increase your income outside of your 9 to 5!   Turn your passion into cash I know it may seem impossible,
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