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Posted by / 28-Sep-2017 02:30

There are several factors that'll help you figure that out, including how much money you owe, whether your loans are public or private, and the interest rates."If the debt is costing more than what you are earning, then prioritize paying the loans off," says Mary Ballin, a California-based financial adviser."The more your money works for you, the less you have to work for it." Send us your money questions for a chance to be featured in Broke no more. I have a good job, but I have more than 0,000 in college loans from different banks coming due in two months. A: First, check to see if you have any federal loans, like Staffords.And I am going to be straight with you: Private college loans are not ideal at any time, especially now, when many lenders have left the student loan business or curtailed their lending in the wake of the financial crisis. With a private loan consolidation, your FICO credit score will determine both whether you get a loan and what the initial rate will be.I contacted student loan guru Mark Kantrowitz at Fin Aid.org, who says just three lenders still offer consolidation: Chase, Student Loan Network, and Wells Fargo. You should also know that there are no fixed rates on consolidated private loans; your interest rate will probably be tied to a benchmark like the prime rate, so when that rises, so will the rate on your loan.

Paying off your student loans and saving up for a home purchase are certainly worthy financial goals. Before doubling down on either of those things, make sure you consider two other priorities: an emergency fund and a retirement plan. Those life-altering events that suddenly appear when least expected—a new business venture, a career move, a new marriage and a blended family, extended or postponed retirements, unanticipated expenses, financial windfalls and unplanned shortfalls.At Consolidated Financial, we recognize that these situations are the new reality, requiring a fresh, innovative approach to consolidating your investment strategy.As many lenders have tightened their borrowing criteria over the last couple of years, qualifying for a loan has become increasingly difficult.There are alternatives to mainstream and payday loans.

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Saving for retirement should also top your list of financial priorities, even if it seems further away than buying a home or paying off your debt.