How can you manage student loan payments?

• Sign up for autopay. Falling behind on your student loan payments can lead to late fees, and if you were to become truly delinquent, you could face even bigger troubles, such as wage garnishment. To avoid these problems, you can enroll in autopay, in which you move money automatically from a checking or savings account to your student loan provider. In addition to staying current on your loan, you might earn a .25 percent rate reduction, which is offered by many lenders and loan services to those who enroll in autopay. 
• Refinance your loan. With a steady income, a reasonably good credit score and a manageable number of other debts, you might be able to refinance your student loan and reduce your interest rate, which will enable more of your monthly payments to go toward the principal. 
• Look for employer benefits. Some employers — typically the larger ones — offer student loan repayment help to employees, so check with your human resources department. 
• Make extra payments. If you feel strapped just making your regular student loan payments, you may not be able to make extra ones. But if you can afford to add to your payments consistently, you could pay off your loan earlier than you had thought. But just because you make an extra payment, the money doesn't necessarily go toward reducing your principal — student loan services generally apply payments first to late fees and then to accrued interest. If you pay online, you should have an option to apply extra payments to the principal. Your loan servicer could also provide you with other ways of paying more toward principal.
• Choose a payoff strategy. If you have multiple student loans, and you can make more than the minimum payments, you may want to be strategic in how you pay off your loans. You could choose the "snowball" method by getting rid of the smallest loans first — a technique that can give you feelings of momentum and satisfaction. Or you could take the "avalanche" approach by first going after the loans with the highest interest rates. Either route could save you more money in the long run. 

WWII Soldier Coming Home Friday

05:43PM / Wednesday, December 04, 2024

Bernard Calvi

NORTH ADAMS, Mass. — A World War II hero will be returning to the Berkshires on Friday night, 82 years after he died as a prisoner of war in the Philippines.

 

Pvt. First Class Bernard Calvi's body will arrive from Hawaii on Friday and will be taken to Paciorek Funeral Home in Adams that evening. 

 

A welcome home standout will take place on Hoosac Street in Adams beginning at 8 p.m. Calvi is set to arrive at Bradley International Airport in Connecticut at approximately 6:40 p.m. and arrive at Paciorek Funeral Home about 8:20. 

 

Calvi had enlisted in the Army Air Forces in September 1940. He and William P. Gilman Jr. of North Adams, good friends and classmates, had been stationed in the Philippines with the 17th Pursuit Squadron five weeks before Imperial Japan launched its attack against United States and Allied installations across the South Pacific. 

 

They disappeared after the fall of Corregidor, an island in Manila Bay to which U.S. forces had retreated, in May 1942. Calvi's parents, Lena and Joseph of Quincy Street, were informed in 1945 that their son had died July 16, 1942, at Cabanatuan Prison Camp after surviving the Bataan Death March. Gilman died a month later.

 

Some 2,800 prisoners died in the camp after suffering from starvation, disease and dysentery. They were buried in makeshift communal graves, which made identifying and recovering remains after the war difficult, according to the Department of Defense's POW/MIA Accounting Agency. 

 

DPAA is tasked with recovering American service members missing in action and had played a key role in the recovery of Pvt. First Class Erwin S. King of Clarksburg from Guadalcanal. King was buried at Southview Cemetery on Sept. 24.