I graduated college when I was 22, in 2021. I launched a marketing business right after, freelancing full-time.
Both of my private student loans had variable interest rates, and my federal student loans all had fixed interest rates. The interest on my private student loans was initially very low—2.3 percent and 3.2 percent. Over time, they increased to 7.8-8 percent before I paid them off. The interest on my federal student loans range in rate from around 2.5 to 5.5 percent.
I put surplus payments on the loan with the highest interest rate, which was one of my private student loans, and then once that loan was paid off, my goal was to take those surplus payments and redirect them to the next highest interest rate loan. I was going to continue doing that until all of my debt was paid off.
I decided to switch my business over from an LLC to an S Corp. An LLC is a business structure, and if you're a single-member business, you will be taxed as a sole proprietor. An S Corp business allows you to be taxed as a corporation, which gives you the option to put yourself on a payroll.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Education Education Latest News, Education Education Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Conservative groups sue to block Biden plan that cancels $39B in student loansThe Education Department called the suit “a desperate attempt from right wing special interests to keep hundreds of thousands of borrowers in debt.”
Source: FOX4 - 🏆 289. / 63 Read more »
Conservative groups sue to block Biden's plan to cancel $39 billion in student loansTwo conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.
Source: MarketWatch - 🏆 3. / 97 Read more »
Conservative groups sue to block Biden plan canceling $39 billion in student loansTwo conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.
Source: WashTimes - 🏆 235. / 63 Read more »
Conservative groups sue to block Biden plan canceling $39 billion in student loansTwo conservative groups are asking a federal court to block the Biden administration's plan to cancel $39 billion in student loans for more than 800,000 borrowers.
Source: CBS21NEWS - 🏆 304. / 63 Read more »
Conservative groups sue to block Biden plan canceling $39B in student loansTwo conservative groups are asking a federal court to block the Biden administration's plan to cancel $39 billion in student loans for more than 800,000 borrowers.
Source: KSLcom - 🏆 549. / 51 Read more »
Conservative groups sue to block Biden plan canceling $39 billion in student loansTwo conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »