College Savings / Student Loans Questions

By Terry Savage

college loans repayment

Answered on September 29, 2013

how can I combine them to one. Private & Federal Loans ? Thank You I missed the website you had given on wgn news this morning. Thank you so much for all your help with this matter. Looking forward to your reply. SAVAGE SAYS:You can't combine the two types of loans.  What I mentioned on…

Retirement and student loans

Answered on September 29, 2013

My daughter has a large amount of student loans that are considered private loans. Mainly from Citi bank and AES. We were able to buy our way out of some of them, but still have a large debt which WE are paying monthly, since she does not have the monthly income to pay these. We…

Roth 401k Conversion

Answered on September 02, 2013

Dear Terry, When leaving or retiring from a firm, can a person's Roth 401k account be converted directly to a Roth 401k without incurring taxes or penalties? Phil SAVAGE SAYS: I'm sort of going to punt on this and send you to the real experts. I would suggest your contact Fidelity or Vanguard about your…

Student loans — a rescue?

Answered on June 19, 2013

My grand daughter, age 21, has student loans from 'Direct Loans' in the amt. of $11,000. This loan was made 4 yrs. ago when she was laid off. Being a single mom with a son , she decided to get further education. Because of the stress of not working & found the school to be…


Answered on April 27, 2013

Morning Terry, We have now come due in July 73,000 in Parents Plus loads we took out to help our daughter get thru college. 114 payments are @ 1, 079.00 per month......What!!!!! so I asked them what's the next thing since we cannot afford this?, she said you could push it out for x amount…

Student loans interest rates are unfair

Answered on April 09, 2013

My son has huge student loans from law school, Direct Loan and Grad Plus. He went to school during that window of time between when students were allowed to consolidate their variable rate loans at less than 3% and the lower fixed rates available now. Unfortunately his rates are 6.9 and 8.6. He is in…



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