Student Loans

The Realities of Paying Off Student Loans

California / Nevada Credit Union League

CONSIDER THIS: College graduates are finishing school with high hopes, bright futures—and decades’ worth of student debt.

Student Loan Hero estimates the average 2016 college graduate has $37,172 in student loans. All that money can take a decade or more to pay off. The Consumer Finance Protection Bureau considers a standard payment term on a student loan to be about 10 years, although borrowers with more than $30,000 in federal student debt could be eligible for payment plans up to 25 years. A Pew Research Center survey found 16 percent of adults report having outstanding student loan debt left over from funding their own education. Of those respondents, 22 percent are between the ages of 30 and 44. Another 7 percent are ages 45 to 59. Overall, Americans owe more than $1.48 trillion in student loan debt, according to Student Loan Hero.

3/20/18
Emergency Savings Piggy Bank

BUILDING AN EMERGENCY FUND

California / Nevada Credit Union League

Financial experts frequently advise people to set aside in an emergency fund enough money to pay for between six and nine months of living expenses.

Recent surveys show many Americans don’t have an emergency fund of even $400. What if this is you and you’re broke and in debt? What do you then? Here a few tips that may help:

3/31/18
Retirement 101

How to Start a Retirement Plan

Greater Nevada Credit Union

Recent surveys found that Americans’ biggest financial fear is never being able to retire, and that 56% of Americans have less than $10,000 saved for retirement. Working for a company that doesn’t offer a retirement plan (such as a 401(k)), not being able to save money after the bills are paid, and/or simply procrastinating on getting started are commonly cited as reasons by those that are falling short or feeling financially insecure.

3/5/18