Student Loan Key Terms

student loan

Delinquency/Default – You are considered a loan delinquent if you fail to make loan payments when they’re due. Extended loan delinquency eventually leads to loan default, in which you fail to repay your loan according to the agreed upon terms. Student loan delinquency and default can very negatively influence your credit score and credit history (affecting your ability to take out any other loans or types of credit in the future).

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Student Loan or Student Line of Credit?

student line of credit

Getting accepted into the University or College of your choice is one of life’s happiest moments for most students – at least until they realize how much it’s going to cost. Post-secondary education is notoriously expensive, meaning the average student has to take out at least one loan in order to go to school.

We break down two of the most popular options – the government loan and the student line of credit – to help you figure out which one makes the most sense for you.

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What Should Your Mortgage Length Be?

mortgage length

Everyone’s heard different things when it comes to paying off a mortgage; some claim it’s best to have a really long mortgage in order to increase your savings with lower monthly payments while others say that the freedom you get from paying off your mortgage as quickly as possible is what you should be striving for. So what is the truth about mortgage length?

While there is no set in stone rule for what your personal mortgage length should be, the overall school of thought seems to be that it’s better to pay it off faster.

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