If you’ve exhausted your federal financial aid, and haven’t been lucky enough to win any scholarships to help cover your remaining expenses, chances are you are now researching private student loans to help pay for college. If so, there are several things you should consider before signing on the dotted line. First of all, you’ll most likely […]
We get this question a lot about “Do student loans hurt your credit”. It’s nice to know that some borrowers and cosigners are concerned about the impact applying to multiple student loans may have on their credit. After all, our good credit allows us to finance important big ticket items like cars and homes and […]
Your parents will tell you, “a penny saved, is a penny earned.” In today’s economy, saving as many pennies as possible is more important than ever. Savvy consumers price shop for everything – even milk. The same should be true for private student loans. There are a number of banks and other lenders that make credit-based education […]
Student loan default is a growing concern in the United States. In fact, nearly two percent of the population (7 million borrowers) has defaulted on their loans. The consequences of failing to make your payments on time can be far reaching. Not only will you likely incur collection fees, but you could also have your […]
For those of us with student loans, the repayment period can be beyond stressful. With interest rates ranging from 4% to 7% federally, and sometimes higher with private student loans, it’s no wonder, really. And for those barely making the ends meet to scrape out the minimum payments, it can be infuriating. Does Interest Have that […]
Taking out student loans is the easy part, relatively speaking. It’s paying them back that’s tricky. I know when I first started my repayment, I barely knew what all the terms meant, let alone that there were several repayment options available to choose from. So what are the available student loan repayment plans, and which is the […]
You may feel a new sense of liberation having just graduated. To you, the post-grad life means no more homework, no more tests, no more surprise presentations, or six page papers at three in the morning. No more responsibilities right?…Wrong. If anything, you have just acquired one of the biggest responsibilities known to post graduates, paying […]
It’s that time of the year when high school seniors eagerly await their acceptance letters and parents nervously wonder how much college is going to cost them. Before you consider borrowing, let’s review the pros and cons of private student loans. Even those who may have put away some money through a 529 Plan or another college […]
Are you wondering on how to remove a cosigner from a student loan? With the rising cost of college tuition, more students are turning to private student loans to help bridge the gap between what is offered through financial aid and what they can pay out of pocket and their actual college costs. Unfortunately, many young […]
Student Loan Success According to the Federal Reserve, as of 2017, the median sudent loan debt is $17,000 per student, it’s arguably more important than ever that students know what they are getting into, and that those with student loans know the who, when, how, and how often when it comes to paying their loan providers. […]
A while ago we talked about refinancing your student loans. Now it’s time to talk about another great option: consolidating. While refinancing your student loans will certainly help to get you a better interest rate, it doesn’t do a whole lot in the way of buying you time. Consolidation, on the other hand, is a great way […]
Recently, I was reviewing Sallie Mae’s How America Saves for College 2014 and was surprised by some of the findings. It’s no secret that college is getting more expensive, so I anticipated that more parents would be saving money to help their children meet those rising costs. Surprisingly, fewer people are saving for college compared to just […]
Looking for Jobs That Pay for College? One of the perfect ways to pay for college is to find companies with tuition reimbursement. This has never been more important than now, with college costs on the rise. According to the National Center for Education Statistics, for the 2018 to 2019 academic year, average undergraduate tuition, fees, […]
Are you wondering what do student loans cover? Many students, are unsure about what expenses the FAFSA or a private student loan can actually cover. Most understand that the funds should be used for education-related expenses and not wasted on unnecessary items, such as alcohol or a new PS4, but determining what qualifies as an […]
Last night, my daughter ran into my room brimming with excitement about a theatre school in New York City that she absolutely must attend next year. Being the proud ‘drama mama’ that I am, I didn’t simply shoot her down. Instead, we paid a visit to the school’s website. Everything looked amazing, but there didn’t […]
The PLUS Loan for Parents is a federal education loan program many families utilize to pay for tuition, room and board not covered by financial aid or other loans, such as Direct Student Loans, provided to the student. In the PLUS Loan for Parents program, the borrower is a parent. However, your application for a parent plus loan denied A […]
First things first–let’s get the answer to the question out of the way. A student may only borrow up to the cost of attendance determined by the school minus financial aid including other student loans. The amount a student is eligible to borrow is the remainder of that equation and it can only be determined one academic […]
Direct Graduate PLUS Loan Overview Graduate and professional students can borrow under the Direct PLUS Loan for Graduate and Professional Students Program. As of July 1, 2010 all federal student loans including the Grad PLUS loan are provided exclusively by the federal government through the Direct Loan Program. Borrowing Process for Grad PLUS Loans […]
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Do you know the student loan definition? As student loan is a sum of money that a college student borrows from either the government or a private lender to help pay for college expenses. Student loans and financial aid can be difficult enough without having to deal with confusing terminology. Our helpful glossary explains the ins […]
It’s January, which means many of you will start working on your 2013 taxes soon. I’m sure most of you are aware of the various tax deductions and credits that are available for business-related expenses, donations, child care, and medical bills, but did you know that your student loans may also give you certain tax […]
With the class of 2015 graduating with the highest debt average of any college class to date, student loans have become the norm for nearly 40 million Americans. More and more graduates are factoring their student loans into their job making decisions post education, looking for their best hope at successfully paying down their loans […]
There are a lot of student loan lenders. Sorting through who’s who can be more difficult than you might think. For example, some banks that offer private student loans only supply the funding for the loans while a third-party structures their program. In other cases, what looks like two different lenders is actually the same […]
Everyone’s situation is unique. The best student loans generally have the lowest cost. We’re often asked, What are the best student loans? The simplest answer is that the best student loan is the lowest cost student loan. However, it can be tricky to decide which student loans cost less than others. Here are a few tips to […]
As the school year winds to a close, we’re sure the last thing on your mind is paying for the next year. The reality is that you will be receiving a bill for next semester in about six weeks. If you have a funding gap, now is the perfect time to compare students loans so you can […]