Student loan debt and its rapid growth has garnered a great deal of well-deserved media attention. Citing data from the U.S. Department of Education and the Federal Reserve Bank of New York, on October 18, 2011, USA Today reported that the amount of outstanding student loans reached record levels.

If I have a current mortgage balance of around $66,150 at 8.25% fixed rate, monthly payments, with 21 years left on a 30 year mortgage, How much do I save if get a 15 year mortgage at 4.85% fixed rate, biweekly payments, with $10,190 of credit card debt added which is currently at 9.99%?

These days, economic turmoil is no doubt turning people financially challenged. Though some people somehow manage to get out of this dire situation, some go to the very end and never become able to come back in a normal life.

Most people know that ‘S.O.S.’ is some type of distress call, but most people have no idea what it means. The popular notion is that it the letters stand for ‘Save Our Ship’ which was used by the military in battle. You may be surprised to know that in reality the acrostic has no meaning at all!

Next to winning the lottery, a debt consolidation loan is a debtor’s dream. With one monthly payment and a fixed monthly payment schedule, you can actually see an end to those monthly payments. In reality, consolidating bills isn’t always easy. If you have a lot of debt, it can be hard to find a consolidation loan at a lower interest rate. And if you’re not careful, you can end up deeper in debt than when you started.