Utah Money Moms
  • HOME
  • TV & Video
  • RESOURCES
  • About
  • Contact
  • Online Course

the CARES Act & Your Student Loans

8/25/2020

2 Comments

 
Picture

Principal and interest payments on federally-held student loans are automatically suspended through December 31, 2020.


The CARES Act suspended principal and interest payments on federally-held student loans through September 30, 2020, and an Executive Order directed the Department of Education to extend the suspension until December 31, 2020. The Department of Education extended other student loan benefits in the CARES Act until December 31, 2020.

What you need to know:
  • Interest and monthly payments on federally-held loans are suspended through December 31, 2020.
  • You do not need to contact your student loan servicer or take any action on your federally-held student loans.
  • Make sure your servicer has up-to-date contact information and check your mail or email so you can receive any updates or information about your loans.
  • Suspended payments through December 31, 2020, will count towards any student loan forgiveness program, as long as all other requirements of the loan forgiveness program are met.

From March 13 through December 31, 2020, the interest rate is set to 0% and payments are suspended for student loans owned by the federal government. If you made a payment toward your federally-held student loans after March 13, you can request a refund from your student loan servicer. 

PRO TIP: If you are financially able to make payments or continue making regular payments on your student loans, any payments you make after March 13th will be applied directly to principal. This will help you pay off your loans faster. 

Source: Consumerfinance.gov
2 Comments

5 Ways to Save Money as a College Student

6/6/2020

0 Comments

 
GUEST CONTRIBUTOR: TASHA KILLIAN, USU EXTENSION ASSISTANT PROFESSOR
Picture
Choosing to pursue higher education can be a tough decision. It can be an even harder decision when you look at all the costs. In light of National Higher Education Day, high school graduations, and college freshmen getting ready for their first semester,  I thought I would share with you a few tips that got me through some of my higher education days, when money gets a little tight. If you, one of your children, a niece, nephew, or someone else you know is going to be starting their higher education experience in the next little bit, be sure to pass these tips on to them. 


Read More
0 Comments

Meaningful Graduation Gifts

5/30/2020

0 Comments

 
GUEST CONTRIBUTOR: KATHY RIGGS, USU EXTENSION PROFESSOR
Picture
Picture
Meaningful graduation gifts - Must they have a price tag attached? It’s again the time of year when graduation announcements begin to fill up mail boxes and social media pages. Though most graduates will experience a non-traditional ceremony this year, friends and family will still wish to acknowledge the hard work of high school, college or technology school graduates. However, with financial strains placed on many families, it can be difficult to know how much to spend and what type of gift will still be meaningful with less discretionary funds available.
Some may still consider giving a laptop, new smart phone or car. However, these can be very expensive and out of reach for many parents, especially when finances may be stretched just to cover basic necessities. However, this is a great time to share some sound financial advice-- which may be the most useful “food for thought” gift a parent can give. It may be that going to a quiet spot to share a favorite take-out meal will help the advice to be easier to share and easier to accept.
​
For parents: Six possible financial management strategies to consider sharing:


Read More
0 Comments

Baby steps to SavE for kids' college

7/29/2019

0 Comments

 
GUEST BLOGGER: ELIZABETH DAVIS
Picture
Picture
Paying for college can be an overwhelming task. According to the Federal Reserve (2019) the average student loan debt per students finishing an undergraduate degree is $32,731. 
I was in graduate school when my daughter was born. Ironically the semester that she was born I was in a social policy class that discussed the expense of having children. I was overwhelmed and disheartened to learn that on average it costs $233,610 to raise a child to the age of 18 and that was NOT including college expenses! I was pregnant, sick, and overwhelmed by what seemed like the impossible task of planning for my child’s future while I was still in the throes of finishing my own education. 



Read More
0 Comments
    Picture

    amanda

    Blog editor and Accredited Financial Counselor sharing real-life money smarts that can help you stay on track with financial goals while still enjoying life!
    Extension Associate Professor
    Utah State University Extension


    AS SEEN ON

    Picture

    awards

    Picture
    1st Place National Award in Social Media Education from the National Extension Association of Family and Consumer Sciences
    Picture
    Gold Award in Blog Site category at the 7th a​nnual Education Digital Marketing Awards.
    Picture
    Silver Award in New Media category at the 34th annual Educational Advertising Awards.
    Picture
    Platinum Award in Digital Media, Web Design category at the International Marketing and Communication Awards.

      stay updated!

    Subscribe

    Follow the fun on Instagram


    Picture

    Categories

    All
    2020 Census
    Allowance
    Book Review
    Budgeting
    College
    Consumer Protection
    Couples And Money
    COVID 19
    COVID-19
    Credit
    Data Breach
    Debt
    Earth Day
    Entrepreneurship
    Events
    Financial Binder
    Financial Education
    Financial Emergency Prep
    Financial Freedom
    Financial Goals
    Financial Health
    Financial Literacy Month
    Financial Paperwork
    Financial Peer Pressure
    Financial Security
    Food Budget
    Gift Giving
    Holiday
    Holiday Budgeting
    Home Maintenance
    Identity Theft
    Inexpensive Fun
    Kids And Money
    Money Mindfulness
    Money Monday
    Money Personality
    Money Tip
    Net Worth
    Panic Buying
    Personal Property Inventory
    PowerPay
    Retirement
    Review
    Revolving Savings
    Saving
    Scams
    Singles And Money
    Spending
    Student Loans
    Taxes
    Tax Freedom Day
    Travel
    Unemployment
    Vacation
    Women And Money

OTHER RESOURCES

finance.usu.edu
livewellutah.org
extension.usu.edu
powerpay.org

    STAY UPDATED!

Subscribe

FOLLOW US

  • HOME
  • TV & Video
  • RESOURCES
  • About
  • Contact
  • Online Course