From IOU To I Forgive You

“Don’t seek to ascribe your internal value by external means.” Where the words my wife used to remind me that I’m not alive to be popular. Throughout my student loan repayment journey I found it necessary to often forgo shopping, dining, and traveling with friends.

As a husband and father of two, it’s difficult placing the needs of my family before my own desires. However, this is exactly what Jesus Christ has called me to do. I am called to love my wife as Christ loved the church as found in Ephesians 5:25. This means even when she is disagreeable (as I can be too), I must show her love.

I must also imitate Christ in humility as found in Phillipians 2:3. By no means does the Bible call for believers to be doormats. The Bible provides us with “Fruits of the Spirit”- desirable qualities we should look for in ourselves and others. With that said, how will my decisions affect others?

In the context of this blog, life isn’t about paying off debt; and this doesn’t make it okay to become a spendthrift. I regret not “seeing the forest for the trees” in pursuit of debt repayment. I’ve sacrificed putting Christ on display by holding onto resources, and forgetting 2 fish and 5 loaves of bread were more than enough for Him to work with.

I must acknowledge my own moral failures and extend forgiveness; even if my loan servicers won’t do the same hahaha. Forgiveness is not for those who hurt you, but for you. Holding onto hurt is like a bad rope burn, let it go. So this post is to my 18-year-old self, I forgive you for signing the promissory note unwittingly lol.

For my readers, what regrets do you still hold on to? What do you need to forgive yourself and others of? Join me in starting the journey by commenting below.

Until next time everyone, stay strong… fight on… and have no debt but love. Peace and blessings.

In The News: Making the FAFSA Mandatory

July 15, 2019

By Andrew Kreighbaum
For Inside Higher Ed

In a bid to boost the number of students receiving financial support for college, Texas will soon become the second state to require high school seniors to complete the Free Application for Federal Student Aid before graduating.
A handful of states have looked at making FAFSA completion mandatory for graduating high school students. Beginning with the 2020-21 academic year, Texas will provide a serious test case for the policy after big successes in Louisiana, which enacted the requirement last year.

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Completing the form is a leading indicator of college enrollment. And there’s ample evidence that more financial aid is associated with outcomes like college completion. Actually achieving big gains in FAFSA completion, though, requires significant investment and outreach by schools and state officials.
During the past academic year, Louisiana saw FAFSA completions by high school students climb by more than 25 percent. College access groups say high school seniors leave millions of aid dollars on the table each year by not completing the form — often because it’s too difficult or they don’t believe they’ll qualify for aid.
“As the forerunner of this kind of policy, the early successes that Louisiana has seen with mandatory FAFSA has to be encouraging for other states,” said Bill DeBaun, director of data and evaluation at the National College Access Network. “We shouldn’t assume Texas will see the same effects Louisiana did. But given the scale of the state, even a modest effect could make a big splash on the FAFSA completion cycle.”
If Texas has 25 percent of the growth Louisiana saw in FAFSA completions, that would mean an additional 12,700 students submit the application, DeBaun said.

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Why You Should Pay Off Your Student Loans Early

Hello and thank you for stopping by to support No Debt But Love! This site represents a movement to live out Romans 13:8 as we leave no debt outstanding, but the continuing debt to love one another. This means we will pay off all our debts: student loans, home mortgages, car loans, and credit cards.

My personal struggle has been student loans as I have been on this repayment journey for 8 years. I would like to recognize a supporter of No Debt But Love. She is a fellow YouTuber and blogger. Her name is Mary, and her YouTube channel is called “A Merry Life, On A Budget”. Check out the links to her channel and her blog below.
YouTube Channel:

This blog entry will feature a friendly critique of an article I came across titled, “Why You Might Not Want to Pay Off Your Student Loans Early” published by the Motley Fool. Here’s the link below. have also featured this article in a previous post.

The first reason the article gives for not paying off loans early is due to borrower protection and the possibility of getting debt forgiven after 10 years of public service.
However, 99% of applicants for student loan forgiveness are denied. This prospect doesn’t sound promising. Here’s support of my perspective provided by Forbes below.

The 2nd reason…The interest rates on your student loans may be lower than other debt. In my frame of reasoning, debt is the amount you owe to someone else. If any debt you have accrues interest, this means compound interest is working against you and not for you. Lord forbid you experience a layoff, resulting you to defer payments.

The 3rd Reason…You could potentially earn a better return on your money by investing it. Whenever you invest there is risk associated with financial instruments we choose to purchase. Usually, the greater the rate of return, the greater the risk you subject yourself to. It would be wise to consider the opportunity costs should you choose to invest as opposed to not investing.

The fourth and final reason…You’ll be giving up a tax deduction (if you qualify.) To this I would say, why hold on to debt to get a tax deduction? If you are a high-income earner and or owe a substantial amount of debt, the $2,500 would either phase out or wouldn’t make much of a difference. Wouldn’t it be better to have your student loan debt paid off and not have interest payments to make?

This concludes this blog post. What do you think? Should you pay off student loan debt early or on the 10-year standard repayment plan? As for me, I hope to have my student loan debt paid around this time next year, concluding 9 years of torture lol. video… Well until next time everyone… Stay Strong… Fight On… and have No Debt But Love, Peace and Blessings.

A YouTube video corresponding to this blog post is in the works! Stay tuned!

As student loan debt mounts, high schoolers ‘shockingly’ unaware of aid options

July 9, 2019

By Brittany De Lea
For Fox News

Exorbitant college Opens a New Window. costs are a significant problem for Americans, but new research shows prospective college students are unaware of how the financial aid Opens a New Window. process works.

A new study from ACT, which surveyed about 1,200 last year, found that many students “lack the most up-to-date … debt-related information” needed to make enrollment and financial aid decisions.

That’s particularly troubling at a time when outstanding student loan debt has surpassed $1.5 trillion, second only to mortgage debt.

Meanwhile, tuition and fees for the 2018-2019 school year averaged $35,830 at four-year private, nonprofit institutions, according to data from The College Board. At public four-year in-state institutions, the average was $10,230 – and $26,290 at public, four-year out-of-state colleges.

The average borrower has nearly $40,000 in student loan debt.

Here’s a look at what most college students surveyed did not know about the financing process.

  • An “overwhelming majority” didn’t know that the U.S. government subsidizes a borrower by paying interest on existing loans while the student is still in college.
  • A majority of respondents did not know about loan repayment options, which allows students to repay loans based on their earnings after college.

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Why You Might Not Want to Pay Off Your Student Loans Early

July 2, 2019

By Christy Bieber

For The Motley Fool

Owing money on student loans can feel like a major financial burden. After all, you have to send money to lenders each month and tons of debt shows up on your credit report.

While you may be tempted to get rid of your student debt ASAP by making extra payments and throwing as much cash at it as you can, this may not actually be the best financial decision. In fact, there are a few key reasons why paying off your student loans early might be a bad idea indeed. Here are four of them.
Student in graduation outfit with dollar sign hanging from tassel.

Image source: Getty Images.
1. Federal student debt comes with borrower protections you can’t get with other debt.

With most types of debt, lenders don’t really care if you’re facing financial hardship — you have to pay back what you owe on schedule. And you can’t just change your payment plan to reduce your payment so it matches your income, nor can you expect to get some of your debt forgiven if you do work that serves the public.

If you have federal student loan debt, on the other hand, there are unmatched borrower protections available to you. Depending on your situation, these borrower protections include:

Eligibility to get loans forgiven if you work in public service and make 120 on-time payments
The option to put loans into forbearance or deferment, and pause payments if you go back to school, are unemployed, serve in the military, join the Peace Corps, or meet other qualifying requirements
The ability to change repayment plans and pick a plan that caps payments at a percentage of income

The government may even subsidize interest on some of your loans during periods when payments are deferred.

Putting extra money toward paying down loans with all these borrower protections rarely makes sense. After all, if you could pay a small percentage of your income for 10 years and get the rest of your loans forgiven because you work for the government or a nonprofit, why pay off your loans early?

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JPMorgan’s Jamie Dimon: Student lending in the U.S. is a ‘disgrace’ and it’s ‘hurting America’

June 28, 2019

By Julia La Roche

For Yahoo Finance

JPMorgan Chase (JPM) CEO Jamie Dimon says student lending in the U.S. has been “a disgrace” and it’s “hurting America.”

“Is there an issue with student debt? There is, but you’ve got to stop the creation of bad debt,” Dimon told Yahoo Finance’s Andy Serwer in an exclusive interview at the unveiling of JPMorgan’s new flagship bank branch in Midtown Manhattan.

Dimon added that the government has “irresponsibly” lent more than $1 trillion since taking over in 2010.

“And now they want to forgive it,” he said.

Student loan debt has soared over the last decade. (Graphic: David Foster/Yahoo Finance)


Student loan forgiveness has become a focal point of the 2020 election, with Democratic contenders rolling out plans. This week, Sen. Bernie Sanders (I-VT) unveiled a sweeping cancellation plan that proposed taxing financial transactions.

“I think they should look at all parts of student lending, fix the broken parts, and then forgive those people need forgiveness, and then help people get into school, and then make sure the schools are responsible in getting the kids out,” Dimon said. “And what we’ve done is a disgrace, and it’s hurting America.”

He pointed out that a tax on financial transactions would be paid by investors.

“How they go about taxing, I’ll leave that to the politicians to figure that out,” he said.

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The Givling trivia app claims to help people with student debt. Players say it’s expensive and risky

June 26, 2017

By Annie Nova


ABRA BELKE WAS IN LAW SCHOOL when she came across the Givling app, which calls itself “the world’s most incredible trivia game.” It promised winners payments toward their student debt.

Belke was interested. Her student loan balance was more than $100,000 and she had previously won $62,000 on the syndicated game show, “Who Wants To Be A Millionaire.”

“I’m a trivia buff,” Belke, 37, said.

However, she quickly realized it isn’t knowledge on a variety of topics that makes a player competitive on Givling. It’s money.

H/O: The Givling app
Caption/Credit: The Givling app

The app’s most-coveted $50,000 payout is awarded every seven to 10 days to players who reach first place in the game’s queue, which currently has more than 450,000 people, according to the company. To climb in that ranking, players need to accumulate queue points. That can be done by watching ads on the app, buying Givling merchandise or coins and using its paid sponsors, which include Uber Eats and eyewear maker Warby Parker.

Belke did it all. She rose up in the queue and hovered in the top few spots.

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