On Student Loans, ugh!
Posted: January 21st, 2006 | Author: Jeff | Filed under: Personal Finance | 1 Comment »There’s a good article in the latest issue of Businessweek magazine (January 30, 2006) that talks about Student Loans: “Outflank The Hikes Ahead”. They say that rates are going up on June 30 and there are ways to cushion the blow. Their advice is that “if you’ve already graduated and haven’t consolidated all your loans–or are graduating this spring–be sure to do so before June 30. That allows you to lock in a 4.7% rate for the life of your loan (if you’re still in school, ask your lender if you can consolidate now.).
If you’re in the mood for something gloomier, you may want to read the article on Sallie Mae and in the Fortune 2006 Investors Guide.
Also, according to an article in the latest Kiplinger’s Personal Finance, “Young workers should save 15% of their income for retirement”.
Holy shit 15% is so much of my money when I think about it. I say I’m not living to the age of 65 (a revelation not so gently brought upon me by Ken), so why not enjoy half of that 15% now?