Loans – Student Loan Debt
Course Description:
This online course provides an overview of student loan debt and associated loans. It covers the fundamentals of understanding, managing, and repaying student loan debt. You will learn about the variables involved in taking out a student loan, including interest rates and repayment options. You will develop an understanding of the different types of student loans available, such as federal loans versus private loans.
Through interactive lectures, readings, discussions, and assignments you will gain an understanding of how to make wise borrowing decisions when planning for college expenses. This course is ideal for individuals who are seeking to understand the process of obtaining a loan to finance their studies, as well as those who have already taken out a loan but want to better manage their repayments over time.
Course Objectives:
- Develop an understanding of different types of student loans & associated terms related to them such as consolidation & refinancing
- Examine various borrowing options while analyzing associated risks & opportunities at each step
- Comprehend varying interest rate structures amongst federal & private lenders depending on borrower’s eligibility criteria
- Analyze new cost-saving strategies for reducing overall loan expenses by consolidating multiple debts into one single payment
- Learn about repayment plans that exist with regard to different types of student loans such as income-based repayment (IBR) plans
- Analyze short-term vs long-term benefits rewarded upon paying off debts quickly or slowly
- Understand how late payments affect credit scores & strategize against those implications
- Determine best methods for communicating concerns surrounding existing debts with creditors
- Utilize the best loan forgiveness programs depending on one’s qualifications from the current job profile
- Analyze case studies & real-world scenarios in order to apply the concepts learned from this course to practical personal finance situations
