Saturday, April 14, 2018

'Nikah itu enggak enak', postingan wanita ini bikin netizen setuju, isinya...


Studies show millennial women have enormous power—when it comes to spending, that is. But what about when it comes to building wealth, like saving and investing toward the future? To figure that out, SoFi teamed up with Levo to survey 2,050 millennial women on their behaviors and motivations around financial habits, with intriguing results. Millennials get a bad rap when it comes to personal finance. They’re often labeled as unprepared for the future or emergencies because they don’t save enough, if anything at all. However, of the women surveyed, 53% have an emergency savings fund set aside (covering three to six-plus months of housing and necessities). And they don’t just keep their money under the bed: 70% review their bank accounts at least once a week. These findings indicate millennial women are much more financially responsible than they’re given credit for, in that they are savers and have cash flow to invest. What’s interesting is that even though they could invest, they don’t. When asked why, 56% say fear holds them back, even if they’re interested in getting started. The unfortunate part about that is, women are making more money than ever before, but are still behind when it comes to investing and financial planning. But when they do get in the investing game, they’re actually good at it: Studies show that when women invest, they often outperform men. Unsurprisingly, even women who are ready to invest their money are still held back by student debt. Of those surveyed, 43% said they would pay down their current debt faster if they were given a $10,000 bonus today (rather than saving or investing it). And that instinct to pay down debt first pays off, literally: A separate analysis of SoFi data found that despite the fact that women have as much student debt and make less money than men, they pay their student debt off more quickly—nearly 4 months ahead of men. Millennial women who are investing do so with several end goals in mind. The top investment goal cited on the Levo survey was “stability and security for the future,” which is a common one. But in second came a goal with a more millennial flair—to build wealth to “have more choices [to] pursue my passions,” or to live to work rather than work to live. As for short and medium-term goals, they are currently saving for an emergency or rainy-day fund first, followed by a vacation and a down-payment on a house. In short, women are saving up and interested in investing, but are unfortunately held back by fear. They’re smart about paying off debt first—and when they do invest, the record shows that they set themselves up for an even brighter future. SoFi Lending Corp. is licensed by the Department of Business Oversight under the California Financing Law, license number 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. Advisory services are offered through SoFi Wealth, LLC.

Got student loans? We’ve got you covered with our Student Loan Smarts blog series. Our expert tips and hacks will help you save money, pay off loans sooner and stress less about student loan debt. Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans. And while you’re at it, check out SoFi’s new Student Loan Debt Navigator tool to assess your student loan repayment options.
One of the biggest student loan myths out there is that borrowers can’t consolidate federal student loans and private student loans into one loan.  It’s understandable why people think that, since this wasn’t an option for many years.  But now that the choice is available, it’s important to understand whether federal and private loan consolidation is right for you – especially when there’s the potential for significant cost savings on the line.

Can I Consolidate Federal and Private Student Loans?

While it’s not possible to use the federal Direct loan consolidation program to combine your federal student loans with private loans, it is possible to combine private and federal student loans by refinancing them with a private lender.  Through this process, you actually apply for a new loan (which is used to pay off your original loans) and you’re given a new—ideally lower—interest rate.
Why would you want to do this?  In addition to the advantages of loan consolidation (like having one, simplified monthly payment), refinancing student loans at a lower interest rate can mean big benefits, like lowering monthly payments or reducing the time it takes to pay off your debt, and cutting down on the total interest you pay over time.
Before you refinance federal student loans, there are a couple of things to think about.  Here’s an easy decision tree to help you understand whether refinancing federal loans is right for you:


Federal Student Loan Interest Rates, Revealed

Some people assume that federal loans always offer the best rates, but this just isn’t true.
Depending on loan type and disbursement date, your federal student loan rate could range from about 3% to 8%.  With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.  This is particularly true for grad school borrowers who use unsubsidized Direct loans and Graduate PLUS loans to finance their education.
So how important is interest rate, really?  Let’s compare a 10-year term, $80,000 loan at 6.84% (the current fixed rate on Grad PLUS loans) and 5.68% (the average 10-year fixed interest rate for SoFi refinance borrowers in 2015).*
Interest RateMonthly PaymentTotal Interest
6.84%$922.28$30,674.12
5.68%$875.36$25,043.66

In this example, refinancing would mean both lower monthly payments and a total savings of more than $5,600. 

Things to Understand About Federal Student Loan Benefits

Some federal student loans offer benefits and protections that do not transfer to private lenders.  This is often the reason that people cite when they say you shouldn’t combine federal and private loans.  But before you dismiss the idea of refinancing, you should first take a look to see if any of these benefits apply to you.
For example, under the Public Service Loan Forgiveness Program (PSLFP), your Direct Loan balance may be eligible for forgiveness after 120 payments if you’ve worked in the public sector that entire time.  Similarly, the Teacher Loan Forgiveness Program is available for teachers who work in schools that serve low-income families full-time for five consecutive years. These are clearly great programs for people who choose careers in public service or education, but if that’s not you, they won’t do you any good.
There are also a number of federal loan repayment plans that can ease the burden for borrowers facing tough economic times. For example, the government’s Pay As You Earn (PAYE) and Income-Based Repayment (IBR) programs allow borrowers to make reduced monthly payments based on financial hardship.  But if your income is over a certain threshold, you won’t benefit from these programs.  And if you do qualify, but you’re at the high end of the spectrum, your slightly lowered payments may come at a disproportionate price in the form of accumulating interest.
It’s important to note that some private lenders offer their own benefits and protections.  At SoFi, for example, if you lose your job, we’ll not only pause your payments, we’ll help you find a new one.
Combining federal student loans and private loans through the refinancing process won’t make sense for every borrower, but it provides great benefits for some.  Now that you know it’s an option and you understand how it works, you can better assess whether it’s right for you.
*Click here  to see student loan refinance examples that depict APR, monthly payment and total finance charges.
Editor’s Note: This is an updated version of a post we originally published in December 2013. We welcome new comments and questions below.

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